{"id":1004585865,"date":"2022-06-14T08:21:38","date_gmt":"2022-06-14T16:21:38","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004585865"},"modified":"2022-12-08T03:58:33","modified_gmt":"2022-12-08T11:58:33","slug":"fri-investors-secures-39m-refi-for-west-palm-beach-office-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/fri-investors-secures-39m-refi-for-west-palm-beach-office-tower\/","title":{"rendered":"FRI Investors Secures $39M Refi for West Palm Beach Office Tower"},"content":{"rendered":"<div id=\"attachment_1004585866\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/1909-e1655206867406.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004585866\" data-attachment-id=\"1004585866\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/fri-investors-secures-39m-refi-for-west-palm-beach-office-tower\/attachment\/1909\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/1909-e1655206867406.jpg\" data-orig-size=\"942,708\" 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=\"625 Flagler\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;625 Flagler&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/1909-e1655206867406.jpg?w=942\" class=\"wp-image-1004585866 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/1909-e1655206867406.jpg?w=300\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/1909-e1655206867406.jpg 942w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/1909-e1655206867406.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/1909-e1655206867406.jpg?resize=768,577 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004585866\" class=\"wp-caption-text\">625 Flagler<\/p><\/div>\n<p><strong>FRI Investors<\/strong> has landed $39 million in refinancing for 625 Flagler, a 108,4820-square-foot office tower in West Palm Beach, Fla. The company acquired the property back in 2017 for $23 million, CommercialEdge data shows.<\/p>\n<p>The financing completes another existing $29 million loan, provided by <strong>Metropolitan<\/strong> <strong>Life Insurance Co.<\/strong> in 2019, according to the same data provider. <strong>JLL Capital Markets<\/strong> arranged the 10-year, fixed-rate loan, funded by<strong> Bank of America.<\/strong><\/p>\n<hr>\n<p><strong>READ ALSO: <\/strong><a href=\"https:\/\/www.commercialsearch.com\/news\/4-ways-for-brokers-to-up-their-prospecting-game\/\">4 Ways for Brokers to Up Their Prospecting Game<\/a><\/p>\n<hr>\n<p>Built in 1984 and renovated in 2018, the 11-story Class A office building spans 1.3 acres and encompasses 9,500 square feet of retail space, five levels of parking and<strong>&nbsp;<\/strong>16,313-square-foot floorplates. The tenant base comprises government, medical and financial companies, such as U.S. General Services Administration, Becker &amp; Poliakoff, F1 Oncology and Mount Sinai, among others.<\/p>\n<p>Located at 625 N. Flagler Drive, the office building is within a mile of Cityplace, including numerous dining places and retail options, such as Publix Super Market. U.S. Route 1 is less than a mile from the property and Interstate 95 is some 2.5 miles southwest of the office tower.<\/p>\n<p>Senior Director Maxx Carney and Managing Director Ike Ojala of JLL Capital Markets worked on the transaction. Carney recently worked on behalf of Seagis Property Group LP and arranged <a href=\"https:\/\/www.commercialsearch.com\/news\/jll-arranged-the-financing-of-the-13-building-portfolio-owned-by-seagis-property-group-lp\/\">$73.35 million in refinancing<\/a> for five industrial properties in South Florida.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tenants at the Class A property include Mount Sinai and the GSA.<\/p>\n","protected":false},"author":2703,"featured_media":1004585866,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22251,21783,1492,21742,21747],"tags":[33250,44006,35073],"class_list":["post-1004585865","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in-focus","category-investment","category-miami","category-latest","category-office","tag-bank-of-america","tag-jll-capital-markets","tag-metropolitan-life-insurance-company"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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