BOCA RATON, FL-Dockerty Romer & Co. arranged $10 million infinancing for the AMTEC Center. A class B office complex located at6401-6421 Congress Ave., the AMTEC Center is using the funds toreplace a maturing loan on the property.

Chris Caveglia, an associate at Dockerty Romer & Co. , acommercial mortgage banking and real estate brokerage in DelrayBeach, arranged the financing through a regional lender. Caveglianegotiated a seven-year term and a 25-year amortization at a“competitive fixed interest rate” to refinance the $6.5 millionloan. AMTEC’s owner will use the remaining $3.5 million to makeproperty improvements, and is reserving an undisclosed amount ofcapital for future real estate investments.

“We had a national CMBS lender lined up, but unfortunately theproperty was only 82% occupied at the time,” Caveglia tellsGlobeSt.com. “With high Boca office market vacancy to underwrite,as well as the possibility of losing more tenants, the dealcouldn’t get done with the cash out. A local lender understood thedirt, the real estate, the tenant, and the market.”