Deutsche Bank & Rialto Capital Refinance Thor Equities' Beach Place Retail Property In Fort Lauderdale For $36M

The retail property located at 17 South Fort Lauderdale Beach Boulevard in Fort Lauderdale, Florida has undergone a refinancing deal. The property, known as Beach Place, spans 96,000 square feet and is owned by Joseph Sitt of Thor Equities. The asset features three stories and is currently 98% leased, with popular national chains such as Haagen Daaz and CVS Pharmacy among its tenants. Its prime location offers beach access and close proximity to Downtown Fort Lauderdale.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $36,000,000
• Lender: Deutsche Bank & Rialto Capital
• Landlord: Joseph Sitt - Thor Equities

Deutsche Bank and Rialto Capital have provided a loan worth $36 million for the refinancing of Beach Place. This financing deal enables Joseph Sitt of Thor Equities to optimize the property's potential and continue attracting popular national chain tenants. The strategic location of Beach Place, offering beach access and proximity to Downtown Fort Lauderdale, contributes to its desirability and sustained success.