Dockerty Romer & Co. Arranges $16,480,000 Million in Financing
Bob Dockerty of Dockerty Romer & Co. has arranged permanent mortgage financing in the amount of $16,480,000 for a 60,000 SF office building along with 105,000 SF office warehouse space including a 17,000 SF Office Depot Store on the ground floor of the office building. The fixed rate financing was provided by Florida Community Bank, FCB. A 10-year, fixed rate swap transaction was negotiated. The Borrower, Reel State Adventures, LLC and Southern State Properties, Inc. refinanced an existing loan that was maturing. The property is located on the north side of Glades Road just east of NW Boca Raton Blvd. at 123 NW 13th Street.
Dockerty commented, “This property is 100% leased and occupied with a waiting list of tenants seeking space. It is uniquely located in East Boca Raton and is extremely well maintained. The owner if the property clearly takes great pride in this asset.” Dockerty added, “ FCB competed aggressively against other banks, life insurance companies and CMBS lenders to win this loan. It was extremely competitive.”
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 $3 Billion of real estate transactions since its inception in January 2000.
FCB is the fifth-largest independent bank in Florida, with 41 locations statewide and assets exceeding $3 billion please go to www.floridacommunitybank.com for more information.