MWB bought the property from JS Cloyd Properties after the Orlando office of Atlanta-based Primary Capital orchestrated and closed the 15-year-loan. "The rate was locked early in the transaction which saved the borrower over $100,000 in interest over the life of the loan," Todd F. Cohen, Primary Capital's Orlando office manager, tells GlobeSt.com.

Cohen says "the long-term financing was close to 85% of the purchase price and carries a sub 6% interest rate, which is almost unheard of for this type of leverage." The funding was arranged through "a relationship that Primary Capital has with a specialized division of AmSouth Bank," Cohen says.

The deal took about 75 days to complete, from contract signing to closing. "It could have been quicker but there was no rush since Primary Capital was able to rate-lock the transaction at the application stage, so there was no interest rate risk on the extended closing," Cohen tells GlobeSt.com.

"Every deal has its challenges, and this one was compounded with a multiple condo situation that still existed and an old ground lease that was thought to still be on the books," Cohen says. "With the help of the (Primary Capital) team, we were able to get the transaction closed that the borrower could return to his normal business." The buyer will either lease or occupy all or a portion of the acquired building.