Newsletters

Wells Fargo Finances $73M for SE Properties

BOCA RATON, FL-Four non-recourse loans were secured for properties in Florida, Louisiana and Georgia.

By Crystal Proenza | Updated on June 18, 2008

(Crystal Proenza is associate editor of Real Estate Florida.)

BOCA RATON, FL-Wells Fargo Bank has secured four non-recourse financings totaling $73.6 million for properties in Florida, Louisiana and Georgia. The largest loan, worth $44.5 million, was funded for Mission Bay Plaza retail center at Glades Road and State Road 7 in Boca Raton. The 272,886-sf center is 96% occupied with 49 tenants, including Albertsons, LA Fitness, Toys R Us and Office Max. Michael Strober of CBRE Melody in Tampa was the mortgage broker for the transaction.

A second property in Boca Raton secured an $8.2-million loan for South Congress Warehouses, a 100% occupied, 118,800-sf industrial property at the Arvida Park of Commerce. Fred Welker of Holliday Fenoglio Fowler in Miami was the mortgage broker for the transaction. Both Florida deals involved strong sponsorship and long-standing tenants in great locations, says Scott Bois, director at Wells Fargo Commercial Mortgage in New York, who oversaw the transactions.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

Unlimited access to GlobeSt and other free ALM publications
Access to 15 years of GlobeSt archives
Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
1 free article* every 30 days across the ALM subscription network
Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account? Sign In Now

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Resource Center

CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.

Assessment

Sponsored by Cherre

Data Management Scorecard: A Health Check for Your Data Management Capabilities and Challenges

CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.

Browse More Resources ›

CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.

Assessment

Sponsored by Cherre

Data Management Scorecard: A Health Check for Your Data Management Capabilities and Challenges

CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.

Browse More Resources ›

Does your data inspire confidence or is there a significant lack of trust in its validity? Use this assessment to gauge where your organization’s data practices are at today and what gaps exist.

Assessment

Sponsored by Cherre

Enabling Stakeholder Confidence in Your Data: A Self-Assessment for Real Estate Organizations

Does your data inspire confidence or is there a significant lack of trust in its validity? Use this assessment to gauge where your organization’s data practices are at today and what gaps exist.

Browse More Resources ›

GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
Exclusive discounts on ALM and GlobeSt events.
Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now

Copyright © 2024 ALM Global, LLC. All Rights Reserved.