Delray Beach, FL – June 8, 2012 – (RealEstateRama) — CBRE Capital Markets in South Florida secured permanent financing on the Bank United Building in Delray Beach, Florida for $6,050,000 on behalf of the borrower, Yomtob Office Holdings, LLC.
Terms of the financing on the 51,810-square-foot office building include a 10-year loan term with a 30-year amortization, a maximum loan-to-value ratio of 70% and an aggressive interest rate.
The seven-story building, located at 5300 West Atlantic Avenue in Palm Beach County, is 98% leased to 21 tenants, including Bank United, Children of America, USA Home Health Services, and Delray Credit Counseling.
Vice Chairman Charles Foschini, Vice Chairman Christian Lee, and Vice President Christopher Apone of CBRE’s Institutional Group in South Florida secured financing on behalf of the borrower through C-III Capital Partners.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2011 revenue). The Company has approximately 34,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site at www.cbre.com.
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