PALM BEACH, FL—From multifamily to retail, Florida assets are winning refis. HC Real Estate Capital just inked two deals in the region.
HC's Kurt Hoffmann and Chris Caveglia arranged $5.5 million in financing for Golf Terrace Apartments in Largo, FL. The duo also arranged a $3 million in financing for Glades Pike Shopping Center in Boca Raton.
HC , worked with the borrower to arrange a seven-year fixed-rate loan for the owners of Golf Terrace Apartments. Financing was arranged through a Commercial Bank.
Built in 1972, Golf Terrace Apartments is a 245-unit garden-style community on 9.45 acres. The multifamily community offers 27 residential buildings, clubhouse, management office and two pools.
Glades Pike Shopping Center is a 35,120-square-foot retail center built in 1981 and currently 100% occupied by Office Depot and Party City. Financing was arranged through a Correspondent Life Insurance Company relationship. The 12-year loan replaced a maturing CMBS loan on the retail property.
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