{"id":1004239271,"date":"2018-07-02T23:26:10","date_gmt":"2018-07-03T07:26:10","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004239271"},"modified":"2022-12-08T22:27:30","modified_gmt":"2022-12-09T06:27:30","slug":"cbre-completes-boca-raton-office-refi","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cbre-completes-boca-raton-office-refi\/","title":{"rendered":"CBRE Completes Boca Raton Office Refi"},"content":{"rendered":"<p>By Timea Papp<\/p>\n<div id=\"attachment_1004239283\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/6800-Broken-Sound-Corporate-Center.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004239283\" data-attachment-id=\"1004239283\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cbre-completes-boca-raton-office-refi\/6800-broken-sound-corporate-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/6800-Broken-Sound-Corporate-Center.jpg\" data-orig-size=\"619,464\" 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=\"6800 Broken Sound Corporate Center\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;6800 Broken Sound Corporate Center&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/6800-Broken-Sound-Corporate-Center.jpg?w=619\" class=\"wp-image-1004239283 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/6800-Broken-Sound-Corporate-Center.jpg\" alt=\"6800 Broken Sound Corporate Center\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/6800-Broken-Sound-Corporate-Center.jpg 619w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/6800-Broken-Sound-Corporate-Center.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004239283\" class=\"wp-caption-text\">6800 Broken Sound Corporate Center<\/p><\/div>\n<p>CBRE has arranged a $7.8 million loan for the refinancing of 6800 Broken Sound Corporate Center, a 50,809-square-foot, boutique office building in Boca Raton, Fla. BankUnited provided the 7-year term loan to owner Marc Bell Real Estate.<\/p>\n<p>Located at 6800 Broken Sound Parkway, the Class A property was built in 2004 and has undergone several major upgrades under the current ownership. The building fronts Clint Moore Road and is situated at the entrance of Park at Broken Sound\u2014formerly Arvida Park of Commerce. The three-story asset is fully leased to a notable tenant base including TherapeuticsMD, a women\u2019s healthcare product company.<\/p>\n<p>The CBRE Debt &amp; Structure team of Senior Vice President Paul Ahmed, Vice President Erin Efstathion and Financial Analyst Mackenzie Fry represented owner Marc Bell in the transaction. According to Yardi Matrix data, the new loan refinances a $6.2 million mortgage provided by Bank of America in July 2016.<\/p>\n<p><em>\u201cWith more than one million in recent capital improvements, 6800 Broken Sound Parkway is a strong investment. This is definitely a great loan structure that allowed for a long-term hold which complements our client\u2019s long-term goals,\u201d<\/em> Ahmed said in prepared remarks.<\/p>\n<p>CBRE is also involved in advertising the property. In 2017, Senior Vice President David Wigoda, Executive Vice President Jeffrey Kelly and Financial Analyst Sean Kelly <a href=\"https:\/\/www.commercialsearch.com\/news\/cbre-tapped-to-market-florida-office-assets\/\">became the exclusive marketing team<\/a> for 6800 Broken Sound Corporate Center.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BankUnited provided a 7-year term loan for the fully leased boutique property, replacing a previous mortgage held by Bank of America.<\/p>\n","protected":false},"author":240,"featured_media":1004239283,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,1492,21742,21747],"tags":[38357,32789,33048],"class_list":["post-1004239271","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-miami","category-latest","category-office","tag-bankunited","tag-cbre","tag-paul-ahmed"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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