(To read more on the debt and equity markets, click here.)

TUCKER, GA-The six-building, 511,576-sf Lakeside Centre Portfolio has received $42.5 million in permanent financing.

CB Richard Ellis Melody’s South Florida office senior director Charles Foschini, CB Richard Ellis institutional group executive vice president Christian Lee and CB Richard Ellis investment properties group associate Christopher Apone arranged the financing through a correspondent lender on behalf of Orlando-based owner Capital Partners Inc.

Foschini tells GlobeSt.com that the financing was a refinancing of the property. “Capital Partners decided to refinance because they had enhanced the property through an aggressive lease-up campaign and created value,” Foschini says.

The six-building portfolio consists of a 58,635-sf building at 1927 Lakeside Parkway, a 87,425-sf building at 1957 Lakeside Parkway, a 50,157-sf building at 1967 Lakeside Parkway, a 54,485-sf building at 1975 Lakeside Parkway, a 196,075-sf building at 1979 Lakeside Parkway and a 60,708-sf building at 1990 Lakeside Parkway.

The buildings are 83% leased to 64 tenants, including Le Cordon Blue College, Financial Asset Management Corp., Washington Mutual, Progressive Insurance, Presidential Financial Corp. and Global Link Logistics.

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

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 © 2024 ALM Global, LLC. All Rights Reserved.