JPMorgan Chase Bank Provides $118M Loan For Office Property In Boca Raton
6600 North Military Trail, Boca Raton, FL, USA
$118,000,000
$181/SF
Building Size
651,265 SF
Asset Type
Office
Closing
Apr 21, 2020
About this deal
AI
An office property located at 6600 North Military Trail in Boca Raton has recently been involved in a closed transaction. The property is owned by Office Depot and represented by Gerry Smith. The transaction took place on 04/22/2020 and the property is situated in the Boca Raton market. The office asset encompasses a total area of 651,265 square feet.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $118,000,000
- Address: 6600 North Military Trail, Boca Raton
- Market: Boca Raton
- Owned by: Office Depot
- Represented by: Gerry Smith
- Date: 04/22/2020
- Square Footage: 651,265
JPMorgan Chase Bank provided a loan of $118,000,000 for this transaction. The loan was secured for the office property located at 6600 North Military Trail in Boca Raton. Gerry Smith, representing Office Depot, finalized the deal with the assistance of their broker.
Players
Boca Raton Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93