TUCKER, GA-The six-building, 511,576-sf Lakeside Centre Portfolio has received $42.5 million in permanent financing.
CB Richard Ellis Melody's South Florida office senior director Charles Foschini, CB Richard Ellis institutional group executive vice president Christian Lee and CB Richard Ellis investment properties group associate Christopher Apone arranged the financing through a correspondent lender on behalf of Orlando-based owner Capital Partners Inc.
Foschini tells GlobeSt.com that the financing was a refinancing of the property. "Capital Partners decided to refinance because they had enhanced the property through an aggressive lease-up campaign and created value," Foschini says.
The six-building portfolio consists of a 58,635-sf building at 1927 Lakeside Parkway, a 87,425-sf building at 1957 Lakeside Parkway, a 50,157-sf building at 1967 Lakeside Parkway, a 54,485-sf building at 1975 Lakeside Parkway, a 196,075-sf building at 1979 Lakeside Parkway and a 60,708-sf building at 1990 Lakeside Parkway.
The buildings are 83% leased to 64 tenants, including Le Cordon Blue College, Financial Asset Management Corp., Washington Mutual, Progressive Insurance, Presidential Financial Corp. and Global Link Logistics.
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