BOCA RATON, FL-The Compson Financial Center here was sold to a local investor for $10.15 million, which calculates out to a 45% discount from the $18.4-million mortgage on the office property.
A CMBS trust seized the nearly 100,000-square-foot property last year after foreclosing on the mortgage held by 980 North Federal LLC, according to the South Florida Business Journal.
The new owner of the property is Boca East Investments, LLC, managed by local investor Charles D. Deyo. Bank of America provided a $12.75-million mortgage to the buyer for acquisition and renovation costs. See story in the South Florida Business Journal.
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