Bob Dockerty and Chris Romer of Dockerty Romer & Co. have arranged permanent mortgage financing in the amount of $4,960,000 for a medical office building located in Hialeah, Florida.
The property, known as Hialeah Medical Plaza (“Hialeah” or the “Property”), consists of a five story class B- medical office building totaling 67,957 SF located in the heart of Miami-Dade County. Hialeah is the only medical office building located on the grounds of Hialeah Hospital and is currently 96% leased with over 40 tenants, most of which are affiliated with the hospital. Within the Hialeah submarket, the Property maintains a strong competitive advantage as the only multi‐tenant medical office building in a three mile radius
Dockerty Romer & Co. arranged the financing with Mercantile Bank on behalf of their client, Virtus Real Estate, LLC. Dockerty commented that, “Both Virtus and Mercantil were highly focused and professional in all areas of this transaction.” Dockerty further commented that, “Mercantil provided an excellent debt structure which will allow Virtus to execute on their long-term business plan for this asset.”
About Dockerty Romer & Co.
Dockerty Romer & Co., a member of RECA, based in Delray Beach, Florida is a full service commercial mortgage banking firm specializing in the capitalization of income producing properties. Dockerty Romer & Co has closed nearly $5 Billion of real estate transactions since its inception in January 2000. (www.dockertyromer.com)
About Virtus Real Estate
Virtus Real Estate, LLC, founded in 2003, brings thoughtful stewardship to the practice of real estate investment by delivering non-correlated alpha via cycle-resilient real estate. Over the last 14 years, Virtus has completed 200 investments for a combined acquisition value of over $3.2 billion. With a strong and established track record, Virtus has proven to be successful in all phases of the market cycle. For more information, please visit www.virtusre.com.