{"id":1004226906,"date":"2018-05-03T10:07:01","date_gmt":"2018-05-03T18:07:01","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004226906"},"modified":"2022-12-07T01:14:38","modified_gmt":"2022-12-07T09:14:38","slug":"starwood-property-trust-sells-broward-county-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/starwood-property-trust-sells-broward-county-asset\/","title":{"rendered":"Starwood Property Trust Sells Broward County Asset"},"content":{"rendered":"<p>By Timea Papp<\/p>\n<div id=\"attachment_1004226915\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Millenium-Plaza.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004226915\" data-attachment-id=\"1004226915\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/starwood-property-trust-sells-broward-county-asset\/millenium-plaza\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Millenium-Plaza.jpg\" data-orig-size=\"5895,4421\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Jake Butters&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=\"Millenium Plaza\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Millenium Plaza&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Millenium-Plaza.jpg?w=1024\" class=\"wp-image-1004226915 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Millenium-Plaza.jpg\" alt=\"Millenium Plaza\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Millenium-Plaza.jpg 5895w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Millenium-Plaza.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Millenium-Plaza.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Millenium-Plaza.jpg?resize=1024,768 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Millenium-Plaza.jpg?resize=1536,1152 1536w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Millenium-Plaza.jpg?resize=2048,1536 2048w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Millenium-Plaza.jpg?resize=150,112 150w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Millenium-Plaza.jpg?resize=696,522 696w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Millenium-Plaza.jpg?resize=1068,801 1068w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Millenium-Plaza.jpg?resize=1920,1440 1920w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Millenium-Plaza.jpg?resize=560,420 560w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Millenium-Plaza.jpg?resize=80,60 80w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/Millenium-Plaza.jpg?resize=265,198 265w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004226915\" class=\"wp-caption-text\">Millenium Plaza<\/p><\/div>\n<p>CBRE has completed the $13.5 million sale of Millennium Plaza, a two-story mixed-use property in Weston, Fla. According to public records, Starwood Property Trust sold the asset to KDC Associates LLC, while Transamerica Life Insurance Co. provided $7 million in acquisition financing. The long-term loan is scheduled to mature in May 2043.<\/p>\n<p>Located at 2780-2818 Weston Road, at the Southeast corner of Weston Road and Commerce Parkway, the 41,058-square-foot building encompasses approximately 23,600 square feet of office space and 17,400 square feet of retail space. Millennium Plaza\u2019s tenant roster spans across office, service and retail industries, including restaurants such as Moon Thai &amp; Japanese, BurgerFi and Bellini Italian Bistro.<\/p>\n<p>The CBRE team of Senior Vice Presidents David Donnellan and David Wigoda, alongside Senior Financial Analyst Patricia Friend and Financial Analyst Sean Kelly, represented the seller in the Broward County transaction. Recently, <a href=\"https:\/\/www.commercialsearch.com\/news\/orlando-area-retail-center-sells-for-11m\/\">CBRE brokered the $11.4 million sale<\/a> of a 128,973-square-foot retail center in Winter Garden, Fla.<\/p>\n<p><em>\u201cAffluent demographics, strategic regional highway access, and a well-defined master plan that limits commercial development make Weston one of South Florida\u2019s most highly coveted submarkets,\u201d<\/em> Donnellan said in prepared remarks.<\/p>\n<p><em>Image courtesy of CBRE<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A CBRE team represented the seller in the transaction, while Transamerica Life Insurance Co. provided acquisition financing on behalf of the buyer\/borrower.<\/p>\n","protected":false},"author":240,"featured_media":1004226915,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,1492,21752,21742],"tags":[32789,36938,33469],"class_list":["post-1004226906","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-miami","category-mixed-use","category-latest","tag-cbre","tag-david-donnellan","tag-starwood-property-trust"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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