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Oct

29

Office Tower Commands $82M in Downtown Ft. Lauderdale

By Tony Seruga

The 21-story building known as 200 West Broward recently underwent a $5.7 million capital improvement program including a lobby renovation in 2016.

CBRE arranged the sale and financing of a Class A office tower totaling 226,376 square feet in downtown Fort Lauderdale, Fla. TA Realty sold the asset in an $81.5 million deal to a joint venture between Banyan Street Capital and Oaktree Capital Management, public records show. Metropolitan Life Insurance Co. originated $55.5 million in acquisition financing, scheduled to mature in 2027.

Located at 200 E. Broward Blvd., the 21-story building was completed in 1992 and recently underwent a $5.7 million capital improvement program including a lobby renovation in 2016. The property, known as 200 West Broward, features a conference center, 24/7 on-site concierge service, full-service banking, café dining, car wash and shuttle services. 200 West Broward is leased to a diversified roster of 22 tenants and offers 6.6 years of the weighted average remaining lease term…

Office Tower Commands $82M in Downtown Ft. Lauderdale

Categories : Commercial Real Estate

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