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David Associates Gets $14M Refinancing Loan

MIAMI-The development company is refinancing three office buildings totaling 176,567 sf in Palm Beach County, FL. SouthTrust Bank is providing the five-year, adjustable-rate loan in a deal arranged by Holliday Fenoglio Fowler LP.

By Melissa Bogdany | Updated on January 20, 2003

MIAMI-The David Associates has received a $14.1 million refinancing loan total for three office buildings in Palm Beach County, FL, through SouthTrust Bank. The three buildings in the portfolio combined have 176,567 sf.

One building is the 14-story, 68,597-sf Harvey Building at 224 Datura Street in West Palm Beach. It is 84% leased. Another is the 57,000-sf, three-story building known as 6801 Lake Worth Road in Lake Worth, FL. This property, which includes a free-standing Wachovia Bank branch, is 98% leased.

The third building is 5700/5702 Lake Worth Road in Greenacres, FL. This property includes a three-story, 43,500-sf office building (5700) and a 7,500-sf, one-story commercial strip center (5702). Both buildings are 100% leased.

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