FORT LAUDERDALE, FL—Sawgrass Lake Center, a 239,373-square-foot, class A office building in Sunrise, FL, has secured a $38.2 refinancing loan. CNL Commercial Real Estate and Long Wharf Real Estate Partners own the center in a joint venture.

HFF senior managing director Paul Stasaitis, director Chris Drew, associate director Jorge Portela and real estate analysts Jose Carrazana and Maxx Carney, represented the borrowers. HFF placed the interim loan with a portfolio lender. CNL and Long Wharf will use the funds to encumber the property with senior financing and provide future funding for tenant improvements and leasing costs.

“2014 has marked a significant increase in demand from both investors and lenders in the office sector evidenced by the fact that there were a number of top-tier senior lenders that competed to provide a loan for this best in class office asset,” Drew tells GlobeSt.com. “As a result, the terms obtained materially exceeded what we anticipated prior to taking the loan request to market.”