X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

RIVIERA BEACH, FL-Cohen Financial’s Capital Markets Unit has secured $4.5 million in debt placement for a 145,800-sf, two-building, class A flex distribution property here in southeast Florida.

The refinance debt placement was for a private investor. The lender was a correspondent life company.

The buildings are located at 3874 and 3875 Fiscal Court. The 3874 building totals 85,800 sf and was built in 1987. The 3875 building, built in 1985, has 60,000 sf. Tenants at the buildings include Nordstrom Inc., Florida Bolt, ASI Building Products, Puritan, Tropical Textiles, Med Gen Inc., Jeffery Sachs Design and G&K Uniforms.

Terms of the 10-year, non-recourse loan include a 20-year amortization schedule, a 75% loan-to-value ratio and pricing based on the 10-year Treasury rate. The loan was redone because it was up for maturity. Les Goldberg of Cohen Financial, a large, national originator of commercial real estate loans, originated the transaction.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE 2020Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.