MIAMI-Procacci Development Corp. in Boca Raton has obtained $87 million to finance its development and acquisition opportunities and refine its debt structure. The company has refinanced its existing loans, which total $73.15 million, bound to 436,000 square feet of office space and it also secured $14.5 million in credit line.
The loan has a five-year term with an extension option for another five years. Four of the five office buildings are situated in Miami and the fifth building is located in Plantation. For the full story, go to South Florida Business Journal .
GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.