X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MIAMI-Cohen Financial has secured $5.7 million in financing recently for three properties located in South Florida.

In one deal, Cohen secured $2.45 million in debt placement for Lake Worth Commerce Center, which consists of two single-story industrial office/warehouse buildings totaling 45,600 sf. The property is located at 1100 Barnett Dr. in Lake Worth. Terms of the 20-year, non-recourse loan include a full amortization schedule, a 75% loan-to-value ratio and pricing based on the 10-Year US Treasury Rate. The lender was a conduit company and Les Goldberg originated this transaction, which closed Aug. 26.

In another deal, Cohen secured $1 million in debt placement for a 34,395-sf light industrial property at 1001 N.W. 158th Dr. in the city. Terms of the 15-year, non-recourse, interest-only loan include a full amortization schedule and 75% loan-to-value ratio. The lender was a bank and Goldberg also originated this transaction, which closed Aug. 18.

For a third property, a 45,000-sf ground lease at 1651 Airport R. in Naples, Cohen’s Deerfield office secured $2.24 million in acquisition debt placement for the borrower. The tenant is Home Depot. The financing was 98% of the purchase price. Terms of the 22-year, non-recourse loan include a full amortization schedule and pricing based on the 10-Year US Treasury Rate. The lender was a life insurance company and the transaction closed Aug. 7.

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

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.