Bob Dockerty & Joe Hepp of Dockerty Romer & Co. have arranged mortgage financing and a future funding facility for ICM Realty Group’s newest office acquisition, a 98,000 SF office building known as Atrium at Broken Sound. Built in 1986, the property is located at 6111 Broken Sound Parkway within the 700-acre Park at Broken Sound commercial development. Included in the sale was about 8 acres of land — most of which is currently used for surface parking, but may be developed in the future. Although only 75% occupied, Atrium at Broken Sound boasts an impressive roster of tenants.
Dockerty and Hepp arranged the financing on behalf of their client ICM Realty Group through Florida Community Bank. The loan proceeds were utilized for the acquisition and to provide a funding facility for future tenant improvements and leasing commissions.
“It’s because of the diligent efforts and market leading expertise of Dockerty Romer & Co. that we were able to successfully structure attractive financing in an accelerated time frame. ICM’s strategic partnerships with firms like Dockerty Romer & Co. and Florida Community Bank allow us to continue our long track record of success.” Said Andrew Webb, ICM Realty Group’s Managing Director.
Dockerty commented that, “Both the Borrower and the Lender were highly focused and professional in all areas of this transaction, which resulted in completing this transaction, in a very short time frame.” Hepp stated that, “It was truly a pleasure working with an extremely experienced and knowledgeable borrower, our client is very bullish on the Park at Broken Sound sub-market, and is committed to investing in the South Florida markets.”
Dockerty Romer & Co. based in Delray Beach, Florida is a full service commercial mortgage banking company specializing in the capitalization of income producing properties. Dockerty Romer & Co has closed nearly $4 Billion of real estate transactions since its inception in January 2000.