Lincoln Scores Refi for Plantation Offices

Lincoln Property obtained a $68.2 million refinancing on Royal Palm I and II, a two-building office complex in Plantation.

The 465,592-square-foot development is located at 850, 900, 950 and 1000 S. Pine Island Rd. in the heart of Plantation. Constructed between 2001 and 2007, Royal Palm I and II consists of two trophy towers, eight and nine stories tall and a four-level, 1,927-space parking garage. The property has undergone significant capital upgrades and boasts state-of-the-art amenities, including modern conference rooms, a full fitness center, a wellness room and other tenant services.

JLL worked on behalf of the borrower to secure the fixed-rate refinancing through Barclays. Paul Stasaitis and Maddy McMillen led the JLL Capital Markets Debt Advisory team representing the borrower.

Stasaitis added, “Both lenders and investors are recognizing that our overall favorable office-market fundamentals, coupled with general market growth, create a very compelling investment strategy.”