Grove Gate Financial Secures $24M Bridge Loan For Clearwater & Fort Lauderdale Office Portfolio | 19321 US Highway 19 North, 2536 Countryside Boulevard & 2455 East Sunrise Boulevard | Rebecca Van Reken, Alec Fox | Office | Loan

Summary

Loan

FLORIDA

Office

269,843 sqft

The property involved in this closed transaction is an office building with a total square footage of 269,843. It is located at 19321 US Highway 19 North, 2536 Countryside Boulevard, and 2455 East Sunrise Boulevard. The transaction took place in two different markets, Clearwater and Fort Lauderdale.

Summary of transaction details

Property Type: Office
Transaction Amount: $24,000,000
Market: Clearwater & Fort Lauderdale
Loan Type: Bridge Loan
Loan Terms: The fixed-rate bridge loan recapitalized the 46 percent leased portfolio and provided future funding for ongoing lease-up costs

Grove Gate Financial, represented by Brad Weiss, is the landlord for this property. The brokers involved in the transaction are Rebecca Van Reken and Alec Fox from Berkadia. They facilitated the deal on behalf of the parties involved.

Players

All
3

Agents
2
Agencies
1

Details

Deal Summary

FINANCED

IMAGE: Alec Fox & Rebecca Van Reken DATE: 10/19/2021 ADDRESS: 19321 US Highway 19 North, 2536 Countryside Boulevard & 2455 East Sunrise Boulevard MARKET: Clearwater & Fort Lauderdale ASSET TYPE: Office ~ SF: 269,843 LANDLORD: Grove Gate Financial - Brad Weiss BROKERS: Rebecca Van Reken & Alec Fox - Berkadia LOAN AMOUNT: $24,000,000 LOAN TYPE: Bridge Loan LOAN TERMS: fixed-rate bridge loan recapitalized the 46 percent leased portfolio and provided future funding for ongoing lease-up costs

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Address19321 US Highway 19 North, 2536 Countryside Boulevard & 2455 East Sunrise Boulevard

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