Adler Real Estate Partners Refinances Package Deal Properties In Columbia, Boca Raton, Delray Beach, Fort Lauderdale, Charlotte, Cary, Hoover, Addison, And Austin For $193M With TIAA Bank
9055 Guilford Road, 1001 Broken Sound Parkway Northwest, 1395 Nw 17th Ave, 5201 Nw 33 Ave, 13504 South Point Boulevard, 15501 Weston Parkway, 2300 Riverchase Office Road, 4505 Excel Parkway & 1835 Kramer Lane
$193,000,000
$12/SF
Building Size
15,523,659 SF
Asset Type
Package Deal
Closing
Jan 23, 2023
AI
The package deal includes properties located in Columbia, Boca Raton, Delray Beach, Fort Lauderdale, Charlotte, Cary, Hoover, Addison, and Austin. The total square footage of the portfolio is 1,724,851.
Summary of transaction details
- Property Type: Package Deal
- Transaction Amount: $193,000,000
The lender for this refinance loan is TIAA Bank, with Lauren Ervin as the point of contact. Adler Real Estate Partners, represented by Matthew Adler and Nick Rahman, are the landlords. JLL, represented by Christopher (Chris) Drew, Melissa Rose, and Christopher Gathman, served as the landlord's representatives.
Players
Market Package Deal Market Snapshot
Boundary boundary · Package Deal · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93