MIAMI—Commercial Place I and II, a suburban office campus spanning 175,088 square feet in Fort Lauderdale, FL, has won the confidence of investors. CBRE Capital Markets' Debt & Structured Finance team arranged $18.3 million acquisition loan for the office buildings.

Brookwood Financial Partners acquired the office campus for $23.5 million. Charles Foschini, Christopher Apone, and Christian Lee of CBRE's Miami office arranged the financing.

"Non-recourse bank debt has become a popular finance vehicle for experienced borrowers like Brookwood, who seek the lowest cost of capital, future funding for lease-up, and highly flexible pre-payment structures," says Apone, CBRE senior vice president of Debt & Structured Finance. The office buildings are located at 3230-3250 West Commercial Boulevard.

TD Bank provided the loan for three years plus extensions, at a floating rate and 65% loan-to-cost ratio. Blue Cross Blue Shield Association, Traveler's Indemnity, Progressive, Host.net, Atkins Global, and Cisco Systems are among the major tenants.

Built in 1990, Commercial Place I is a four-story building with 90,235 square feet. The three-story Commercial Place II was constructed in 1999 and includes 85,197 square feet. Both buildings sit on nearly 11 acres, have access to 750 parking spaces, and include such on-site amenities as a cafe, fitness center and property management office.