DORAL, FL—An affiliate of Hines U.S. Office Value AddedFund II has secured $26.7 million in financing fromTD Bank, NA for its Doral CorporateCenter office property here.

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The transaction was announced by Cushman &Wakefield, which served as the exclusive advisor to Hinesand arranged the senior mortgage loan that is secured by thetwo-building, 280,000-square-foot Class A office complex located onthe southwest corner of Doral Boulevard and NW 87th Ave.

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The new loan is for approximately $26.7 million, of whichapproximately $23.8 million was funded at closing and more than$2.9 million will be available to fund future leasing costs,Cushman officials report.

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The Cushman & Wakefield Equity, Debt and Structured Financeteam of Steven Kohn, MarkEhlinger, Sri Vankayla and SurajRavi served as advisor to Hines.

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"We received substantial interest in this opportunity from thelending community due to the property's high-quality construction,its prime location in the heart of Doral, the long-term tenancy offinancially-sound tenants and the strong sponsorship of Hines,”says Cushman & Wakefield Managing Director Ehlinger.

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Doral Corporate Center consists of Doral Corporate Center I, aseven-story, 141,000-square-foot building completed in 1985, andDoral Corporate Center II, a seven-story, 139,000-square-footbuilding completed in 1990. Hines acquired the property in 2006 andis currently working on plans for additional development on excessportions of the 13.6-acre site.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.