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Doral Office Building Attracts $48M Loan

Guardian Life Insurance Company made a $48 million loan secured by One Park Square, an 11-story office building in Doral.

Commercial real estate brokerage firm CBRE arranged the financing on the 281,786-square-foot building at 3470 Northwest 82nd Avenue.

CBRE said in a press release that its South Florida capital markets team arranged the loan for “a Boston-based institutional advisor,” an apparent reference to Boston-based TA Realty, which acquired One Park Square in September for $96 million. In the press release, CBRE press release described the financing as “a long-term, fixed-rate loan.”

Built in 2010, One Park Square is 90 percent leased to such tenants as Amadeus North America, Accor Hotels and L’eudine Global. The CBRE team that arranged the loan from Guardian Life included Christian Lee, José Lobón and Amy Julian.

“Guardian’s ability to offer desirable prepayment flexibility while maintaining a very competitive interest rates helped them win the opportunity,” Julian, vice president, CBRE debt and structured finance, said in a prepared statement. 


Source: The Real Deal