Connect News Commercial Real Estate news for every market and every facet, every day.
Connect CRE Events Live and virtual events bringing together the best of information and networking.
CRE Industry Events Live industry events.
Connect Creative A full service marketing and PR agency.
Connect Classroom Offering CRE focused continuing education courses on demand.
ApartmentBuildings.com Is a dynamic platform to search for, list and promote multifamily listings nationwide.
Connect Awards View the A-list of commercial real estate & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
Loantuitive Find the right lender for your loan.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
Connect News

Your source for daily news covering CRE transactions and trends. Stay informed on national, regional and property sector news that matters to your business.

Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.

Find Your Course

STAY INFORMED

News when you need it. All our Breaking News, right to your inbox.

Sub Markets

Property Sectors

Topics

Florida & Gulf Coast CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Florida & Gulf Coast  + South Florida  + Office  |  March 23, 2023
Cushman & Wakefield has arranged an $8.6-million loan for Blue Water Advisors LP to acquire the former PGA of America headquarters office building in Palm Beach Gardens, FL.
Lisa McDuffie
By: Lisa McDuffie

Cushman & Wakefield Arranges $9M Acquisition Financing for PGA of America Building

Cushman & Wakefield has arranged an $8.6 million acquisition loan on behalf of Blue Water Advisors LP for the purpose of acquiring and re-tenanting the former PGA of America headquarters office building located at 100 Avenue of Champions in Palm Beach Gardens, FL.

Jason Hochman and Ron Granite of commercial real estate services firm Cushman & Wakefield secured the loan through a local bank for Blue Water Advisors LP, a private equity firm focused on acquiring and developing real asset-based businesses and has been focused and active in the Palm Beach market.

“Blue Water Advisors is an experienced operator in the Palm Beach market and has a successful track record of recognizing and executing on value-add opportunities in one of the country’s strongest office markets,” said Granite. “The lender’s facility will allow the sponsor to multi-tenant a modernized office building after a partial sale leaseback and capitalize on the strong office real estate fundamentals present in this corridor.”

The PGA of America building spans two stories and 42,090 square feet.

Connect

Inside The Story

Cushman & Wakefield's Granite

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
Order Reprints
  • ◦Sale/Acquisition
New call-to-action