(Read more on the debt and equitymarkets.)
NORTH PALM BEACH, FL-Boca Raton-based investor Eleven NineEleven LLC has acquired the 49,449-sf Palm Court Plaza with $6.5million in acquisition financing. The financing was provided byFlorida-based Sterling Bank for an 18-month term and was arrangedby Bob Dockerty and Jamen Lachs, of Delray Beach-based DockertyRomer & Co. The sellers were out-of-town investors looking toexit the market, Dockerty tells GlobeSt.com.
The three-story office and retail property is located on USHighway One just north of PGA Boulevard. Constructed in 1986, ithas 300 feet of frontage along US Highway One and has a centralcourtyard. The retail space is located on the ground level with theoffice space on the second and third floors. The property is 75%occupied.
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