In one deal, Cohen secured $2.45 million in debt placement for Lake Worth Commerce Center, which consists of two single-story industrial office/warehouse buildings totaling 45,600 sf. The property is located at 1100 Barnett Dr. in Lake Worth. Terms of the 20-year, non-recourse loan include a full amortization schedule, a 75% loan-to-value ratio and pricing based on the 10-Year US Treasury Rate. The lender was a conduit company and Les Goldberg originated this transaction, which closed Aug. 26.
In another deal, Cohen secured $1 million in debt placement for a 34,395-sf light industrial property at 1001 N.W. 158th Dr. in the city. Terms of the 15-year, non-recourse, interest-only loan include a full amortization schedule and 75% loan-to-value ratio. The lender was a bank and Goldberg also originated this transaction, which closed Aug. 18.
For a third property, a 45,000-sf ground lease at 1651 Airport R. in Naples, Cohen's Deerfield office secured $2.24 million in acquisition debt placement for the borrower. The tenant is Home Depot. The financing was 98% of the purchase price. Terms of the 22-year, non-recourse loan include a full amortization schedule and pricing based on the 10-Year US Treasury Rate. The lender was a life insurance company and the transaction closed Aug. 7.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 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.