$2,015,000 – Non-Recourse, Fixed Rate, 10-Year term, Cash-out, Office Building, West Palm Beach, FL
Cash-Out Permanent Loan
Non-Recourse
3.85% fixed rate
25-year amortization
Rate Locked at Application
Stepdown Prepayment
DETAILS:
Sponsor required non-recourse terms and a bank execution. Not the easiest placement in the current office environment. However, this property had a strong operating history during covid, and excellent sponsorship. Property has: mostly small local tenants, a few healthcare related, good parking, and is overall a very well maintained property.
Michael Brown – mb@banyancc.com