office portfolio in metro Orlando<\/a>, Fla. Cousins Properties sold the assets known as Interlachen Corporate Center, 2400 Maitland and 500 Winderley to Realty Capital Commercial Real Estate Advisors, Yardi Matrix shows.<\/p>\nInterlachen Corporate Center sits on 8.3 acres at 1211 Semoran Blvd., in Casselberry, Fla., and was completed in 1986. Located at 2400 Maitland Center Parkway in Orlando\u2019s Maitland Center submarket, the building dubbed 2400 Maitland was built in 1983. The third asset in the portfolio was completed in 1985 and is also situated in Maitland Center.<\/p>\n
Convenient\u00a0financing terms<\/h2>\n
Ron Rogg and Chip Wooten of CBRE Investment Properties\u2019 office and industrial group brokered the sale, while Vice President Zac Brumbaugh of CBRE Capital Markets Debt & Structured Finance arranged the fully non-recourse, five-year loan that includes an interest-only term of\u00a018 months and extension options.<\/p>\n
\u201cThe loan we structured provided for future funding that could be immediately accessed for capital improvements and leasing costs, which was essential to provide strong cash flows so new ownership could focus on improving the properties toward the goal of stabilization,\u201d<\/em> said Brumbaugh in prepared remarks.<\/p>\nThe properties were 75 percent occupied at the time of sale by a mix of tenants including RP Funding, Fidelity National Title Co. and Avant Healthcare. The three-story 500 Winderley\u00a0serves as residential mortgage lender RP Funding\u2019s headquarters.<\/p>\n
Images courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"CBRE brokered the sale and arranged $18.3 million in acquisition financing on behalf of buyer-borrower Realty Capital Commercial Real Estate Advisors.<\/p>\n","protected":false},"author":240,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21783,21742,21747,1493],"tags":[32789,33072,37910,38436],"class_list":["post-1004209243","post","type-post","status-publish","format-standard","hentry","category-deals","category-finance","category-investment","category-latest","category-office","category-orlando","tag-cbre","tag-cousins-properties-inc","tag-ronald-rogg","tag-zac-brumbaugh"],"acf":[],"yoast_head":"\n
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