FORT LAUDERDALE, FL—Ivy Realty of Greenwich, CThas secured a $56-million first mortgage bridge loan for itsOne East Broward Blvd. office tower here.
The loan for the 343,551-square-foot office property wasarranged by CBRE Capital Markets' Debt & StructuredFinance and provided by Blackstone. CBREworked on behalf of Ivy Realty to secure a three-year, floatingrate, interest-only, non-recourse bridge loan with two one-yearoptions.
The 19-story One East Broward Blvd. building was 82% occupied atclosing. The loan was facilitated by JasonGaccione, senior vice president, debt & structuredfinance, of CBRE's New York City office. Local market expertise wasprovided by Charles Foschini, vice chairman, andChris Apone, first vice president, of CBRE's Miamioffice.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
