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Florida & Gulf Coast   /   March 18, 2021

David Cohen
By: David Cohen

CushWake Secures $18M Refinancing for Boca Raton Office Property

Cushman & Wakefield has arranged an $18 million loan to refinance 1499 Palmetto Place, a four-story office building in Boca Raton.

The 269,000-square-foot office building is located directly east of Interstate 95 at the Palmetto Park Road Interchange. The property is currently 92% occupied, benefitting from a recently completed $10 million gut renovation which revitalized the interior with Class A finishes throughout.

Jason Hochman, Mike Ciadella and Ron Granite of Cushman & Wakefield’s Equity Debt and Structured Finance team secured the new fixed-rate, non-recourse loan through Grant Street, a national balance sheet lender. The borrower was Grover Corlew.

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David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles.
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