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RedSky, JZ Capital Secure $115M for West Palm Beach Trophy Tower
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RedSky Capital and JZ Capital Partners secured $115 million in financing for Esperanté Corporate Center, a 255,984-square-foot, trophy office tower in West Palm Beach, FL. One of only three Class AA office towers in West Palm Beach, the asset is the market’s newest and most sophisticated office building following a renovation that was completed in Q1 2018.
The 20-story property offers water views and has attracted a blue-chip roster of banking, financial and legal services firms including Bank of America, Holland & Knight, and Chatham Lodging Trust. Located at 222 Lakeview Ave. in the heart of downtown West Palm Beach, the building is situated across the Intracoastal Waterway from the island of Palm Beach.
HFF’s Chris Drew, Hermen Rodriguez and Maxx Carney worked on behalf of the borrower to secure a fixed-rate senior loan through Apollo Global Management on behalf of a managed account, and a fixed-rate mezzanine loan through a life insurance company.
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