{"id":1004175552,"date":"2017-05-08T04:49:50","date_gmt":"2017-05-08T12:49:50","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004175552"},"modified":"2022-12-08T12:02:53","modified_gmt":"2022-12-08T20:02:53","slug":"fort-lauderdale-office-asset-trades-for-14m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/fort-lauderdale-office-asset-trades-for-14m\/","title":{"rendered":"Fort Lauderdale Office Asset Trades for $14M"},"content":{"rendered":"<p>By Timea Papp<\/p>\n<div id=\"attachment_1004175553\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/courthouse-place.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004175553\" data-attachment-id=\"1004175553\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/fort-lauderdale-office-asset-trades-for-14m\/courthouse-place\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/courthouse-place.jpg\" data-orig-size=\"640,512\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Courthouse Place in Ft. lauderdale, Fla.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Courthouse Place in Ft. lauderdale, Fla.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/courthouse-place.jpg?w=640\" class=\"wp-image-1004175553 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/courthouse-place.jpg\" alt=\"Courthouse Place in Fort Lauderdale, Fla.\" width=\"300\" height=\"240\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/courthouse-place.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/courthouse-place.jpg?resize=300,240 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004175553\" class=\"wp-caption-text\">Courthouse Place in Fort Lauderdale, Fla.<\/p><\/div>\n<p>Cushman &amp; Wakefield\u00a0has negotiated the sale of Courthouse Place, a Class A, 66,260-square-foot office building in Fort Lauderdale, Fla. The property changed hands in a $13.7 million deal and became subject to a $11.9 million acquisition financing.<\/p>\n<p>Executive Director Scott O\u2019Donnell lead the C&amp;W sales advisory team representing the seller, alongside Managing Director Dominic Montazemi and Senior Associate Greg Miller. They received the assistance of executive directors Deanna Lobinsky and Travis Herring, both members of the Cushman &amp; Wakefield office leasing team. According to public records and Yardi Matrix data, Courthouse Place Building Owner LLC, an affiliate of New York-based Fortress Investment Group, sold the asset to HRE\/SEFIRA Courthouse Place LLC, an entity affiliated with Miami-based Highline Real Estate Capital.<\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/global-capital-targeting-cre-stays-high-at-435b\/\">Cushman &amp; Wakefield<\/a>\u2019s Equity, Debt and Structured Finance group, led by Senior Director Jason Hochman, arranged an $11.9 million non-recourse loan for the buyer from a balance sheet bridge lender. The loan includes funding for leasing costs and capital improvements over the next several years, with payments on an interest-only basis.<\/p>\n<p>Located at 12 SE Seventh\u00a0St., Courthouse Place was constructed in 2007 to the latest hurricane code standards. The eight-story building features three stories of premium office space atop a five-story parking garage and was 72 percent leased at the time of the sale. The property\u2019s location appeals to legal tenants and offers access to Interstate 95 and public transportation. Tenants of Courthouse Place include Legacy Bank of Florida, Apex Reporting Group and Krupnick Campbell Malone Buser Slama Hancock Liberman.<\/p>\n<p><em>\u201cStrategically located just one block south of the brand new Broward County Courthouse building, Courthouse Place was a value-add opportunity for investors given the 72 percent occupancy and expected rental rate increases as the submarket continues to tighten,\u201d<\/em>\u00a0said O\u2019Donnell in a prepared statement. <em>\u201cThe buyer has a strong plan for stabilizing and improving the building, which requires additional capital,\u201d<\/em> added Hochman.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cushman &amp; Wakefield represented the seller and secured acquisition financing on behalf of the buyer. The loan will fund leasing costs and future capital improvements.<\/p>\n","protected":false},"author":240,"featured_media":1004175553,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21783,1492,21742,21747],"tags":[34908,34375],"class_list":["post-1004175552","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-investment","category-miami","category-latest","category-office","tag-cushman-wakefeld","tag-fortress-investment-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Fort Lauderdale Office Asset Trades for $14M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/fort-lauderdale-office-asset-trades-for-14m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fort Lauderdale Office Asset Trades for $14M\" \/>\n<meta property=\"og:description\" content=\"Cushman &amp; Wakefield represented the seller and secured acquisition financing on behalf of the buyer. The loan will fund leasing costs and future capital improvements.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/fort-lauderdale-office-asset-trades-for-14m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-05-08T12:49:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T20:02:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/courthouse-place.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Timea-Erika Papp\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/fort-lauderdale-office-asset-trades-for-14m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/fort-lauderdale-office-asset-trades-for-14m\/\",\"name\":\"Fort Lauderdale Office Asset Trades for $14M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/fort-lauderdale-office-asset-trades-for-14m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/fort-lauderdale-office-asset-trades-for-14m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/courthouse-place.jpg\",\"datePublished\":\"2017-05-08T12:49:50+00:00\",\"dateModified\":\"2022-12-08T20:02:53+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f58a713dcbdcb5aab2648af2aa04d6ae\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/fort-lauderdale-office-asset-trades-for-14m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/fort-lauderdale-office-asset-trades-for-14m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/fort-lauderdale-office-asset-trades-for-14m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/courthouse-place.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/courthouse-place.jpg\",\"width\":640,\"height\":512,\"caption\":\"Courthouse Place in Ft. lauderdale, Fla.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/fort-lauderdale-office-asset-trades-for-14m\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Fort Lauderdale Office Asset Trades for $14M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f58a713dcbdcb5aab2648af2aa04d6ae\",\"name\":\"Timea-Erika Papp\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/1abbd000efb56bab071b49e7aa22c0d49e96fb0374efdef0909c7744785579a7?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/1abbd000efb56bab071b49e7aa22c0d49e96fb0374efdef0909c7744785579a7?s=96&d=mm&r=g\",\"caption\":\"Timea-Erika Papp\"},\"description\":\"Timea is a senior writer covering CRE marketing, tech and real estate trends, as well as industry news in the U.S. Timea was previously a senior associate editor at Multi-Housing News and Commercial Property Executive and has an academic background in law. She has been working in the real estate industry since 2011.\",\"sameAs\":[\"timea-erika.papp@cpe-mhn.com\"],\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/timeaerikapapp\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Fort Lauderdale Office Asset Trades for $14M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/fort-lauderdale-office-asset-trades-for-14m\/","og_locale":"en_US","og_type":"article","og_title":"Fort Lauderdale Office Asset Trades for $14M","og_description":"Cushman &amp; Wakefield represented the seller and secured acquisition financing on behalf of the buyer. The loan will fund leasing costs and future capital improvements.","og_url":"https:\/\/www.commercialsearch.com\/news\/fort-lauderdale-office-asset-trades-for-14m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2017-05-08T12:49:50+00:00","article_modified_time":"2022-12-08T20:02:53+00:00","og_image":[{"width":640,"height":512,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/courthouse-place.jpg","type":"image\/jpeg"}],"author":"Timea-Erika Papp","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/fort-lauderdale-office-asset-trades-for-14m\/","url":"https:\/\/www.commercialsearch.com\/news\/fort-lauderdale-office-asset-trades-for-14m\/","name":"Fort Lauderdale Office Asset Trades for $14M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/fort-lauderdale-office-asset-trades-for-14m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/fort-lauderdale-office-asset-trades-for-14m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/courthouse-place.jpg","datePublished":"2017-05-08T12:49:50+00:00","dateModified":"2022-12-08T20:02:53+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f58a713dcbdcb5aab2648af2aa04d6ae"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/fort-lauderdale-office-asset-trades-for-14m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/fort-lauderdale-office-asset-trades-for-14m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/fort-lauderdale-office-asset-trades-for-14m\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/courthouse-place.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/courthouse-place.jpg","width":640,"height":512,"caption":"Courthouse Place in Ft. lauderdale, Fla."},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/fort-lauderdale-office-asset-trades-for-14m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Fort Lauderdale Office Asset Trades for $14M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f58a713dcbdcb5aab2648af2aa04d6ae","name":"Timea-Erika Papp","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/1abbd000efb56bab071b49e7aa22c0d49e96fb0374efdef0909c7744785579a7?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/1abbd000efb56bab071b49e7aa22c0d49e96fb0374efdef0909c7744785579a7?s=96&d=mm&r=g","caption":"Timea-Erika Papp"},"description":"Timea is a senior writer covering CRE marketing, tech and real estate trends, as well as industry news in the U.S. Timea was previously a senior associate editor at Multi-Housing News and Commercial Property Executive and has an academic background in law. She has been working in the real estate industry since 2011.","sameAs":["timea-erika.papp@cpe-mhn.com"],"url":"https:\/\/www.commercialsearch.com\/news\/author\/timeaerikapapp\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/courthouse-place.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004175552","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/240"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004175552"}],"version-history":[{"count":6,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004175552\/revisions"}],"predecessor-version":[{"id":1004619803,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004175552\/revisions\/1004619803"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004175553"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004175552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004175552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004175552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}