{"id":1004180975,"date":"2017-06-19T12:51:54","date_gmt":"2017-06-19T20:51:54","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004180975"},"modified":"2022-12-08T15:32:11","modified_gmt":"2022-12-08T23:32:11","slug":"hff-brokers-sale-of-peninsula-executive-center-in-boca-raton","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hff-brokers-sale-of-peninsula-executive-center-in-boca-raton\/","title":{"rendered":"HFF Brokers Sale of Peninsula Executive Center in Boca Raton"},"content":{"rendered":"<p>By Timea Papp<\/p>\n<div id=\"attachment_1004180976\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/peninsula.png\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004180976\" data-attachment-id=\"1004180976\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hff-brokers-sale-of-peninsula-executive-center-in-boca-raton\/peninsula\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/peninsula.png\" data-orig-size=\"1152,864\" 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=\"Peninsula Executive Center\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Peninsula Executive Center &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/peninsula.png?w=1024\" loading=\"lazy\" class=\"wp-image-1004180976 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/peninsula.png\" alt=\"Peninsula Executive Center \" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/peninsula.png 1152w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/peninsula.png?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/peninsula.png?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/peninsula.png?resize=1024,768 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004180976\" class=\"wp-caption-text\">Peninsula Executive Center<\/p><\/div>\n<p>HFF arranged the sale of Peninsula Executive Center, a 187,784-square-foot, Class A office property in Boca Raton, Fla. The asset changed hands in a $59.8 million deal, with HFF securing $33.5 million in acquisition financing on behalf of the new owner\/borrower.<\/p>\n<h2>Long-Term, Fixed-Rate Financing<\/h2>\n<p>Peninsula Executive Center consists of two four-story office buildings located at 2381 and 2385 Executive Center Drive. HFF marketed the property on behalf of the seller and procured the buyer. According to public records, CDR Realty sold the asset to Boston-based C. Talanian Realty Co., while Principal Real Estate Investors originated the long-term, fixed-rate mortgage scheduled to mature in July 2032.<\/p>\n<p>Completed in 1998, the property features a 742-space parking structure, 24-hour on-site security and landscaped surroundings. The asset is anchored by Newell Brands and is currently 97 percent leased. Centrally located in Boca Raton and adjacent to the Midtown Boca district, Peninsula Executive Center provides access to Interstate 95 and Glades Road. The location offers proximity to restaurants, executive housing and retail venues including Town Center Mall and University Commons.<\/p>\n<p>Senior managing directors Chris Drew and Hermen Rodriguez led <a href=\"https:\/\/www.commercialsearch.com\/news\/miami-office-tower-trades-for-155m\/\">HFF\u2019s advisory team<\/a>, alongside Director Ike Ojala, Associate Director Brian Gaswirth and Associate Matthew McCormack.<\/p>\n<p><em>\u201cThis acquisition marks the first major investment in South Florida by C. Talanian Realty Co.,\u201d<\/em> said Drew in prepared remarks. <em>\u201cThe buyer was attracted\u00a0by this opportunity due to its main and main location within the heart of Boca and the durable long-term cash flow. A number of balance sheet lenders aggressively pursued this opportunity; however, Principal was ultimately selected due to their deep knowledge of the Boca office market and their ability to structure a creative financing solution,\u201d<\/em> he added.<\/p>\n<p><em>Image courtesy of\u00a0C. Talanian Realty Co.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The acquisition marks the buyer\u2019s first major investment in South Florida. HFF assisted the new owner in procuring a $33.5 million mortgage to facilitate the transaction. <\/p>\n","protected":false},"author":240,"featured_media":1004180976,"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":[35027,32792,35028,33706],"class_list":["post-1004180975","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-investment","category-miami","category-latest","category-office","tag-hermen-rodriguez","tag-hff","tag-ike-ojala","tag-principal-real-estate-investors"],"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>HFF Brokers Sale of Peninsula Executive Center in Boca Raton - 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\/hff-brokers-sale-of-peninsula-executive-center-in-boca-raton\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HFF Brokers Sale of Peninsula Executive Center in Boca Raton\" \/>\n<meta property=\"og:description\" content=\"The acquisition marks the buyer\u2019s first major investment in South Florida. 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