Fortress Investment Group Secures $45 Million Refinance Loan From City National Bank For Dania Beach Office
1855 Griffin Road
$45,000,000
$57/SF
Building Size
780,000 SF
Asset Type
Office
Closing
Aug 13, 2026
AI
The asset involved in this transaction is the Design Center of the Americas, which encompasses an area of 780,000 square feet located at 1855 Griffin Road in Dania Beach, Florida. Fortress Investment Group secured a loan amounting to $45 million from City National Bank of Florida to refinance the property.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $45,000,000
- Lender: Jorge Gonzalez - City National Bank of Florida
- Landlord: Pete Briger - Fortress Investment Group
- Loan Type: Refinance
In 2024, Fortress Investment Group took control of the property through a $76 million credit bid. The company has invested approximately $3 million in upgrades and has plans for an additional $3 million to $5 million in renovations, with management and leasing now overseen by Jamestown.
Players
Griffin Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93