City National Bank Of Florida Provides $12 Million Acquisition Loan For Turtle Run Shoppes In Coral Springs

The property asset involved in the transaction is located at 6221-6371 W. Sample Road in Coral Springs, FL. This retail asset encompasses a square footage of 80,000. The loan amount associated with this transaction is $12,000,000, which is categorized as an acquisition loan with a 5-year term and a 30-year amortization schedule. The loan carries an interest rate of 5.50% and has a loan-to-value ratio of 61.5%. The deal is structured as non-recourse and was executed by the lender, City National Bank of Florida, within a closing period of less than 40 days.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $12,000,000
• Asset Address: 6221-6371 W. Sample Road
• Market: Coral Springs, FL
• Loan Type: Acquisition
• Loan Terms: 5-year term, 30 year amortization, 5.50% interest, 61.5% LTV/Non-recourse
• Lender: City National Bank of Florida
• Brokers: Allan Lieberman & Jason Bogopulsky - Meridian Capital Group

The individuals involved in this transaction are Allan Lieberman and Jason Bogopulsky, who represent Meridian Capital Group as brokers in the deal. Their role was instrumental in facilitating the acquisition loan from City National Bank of Florida.