BridgeInvest Closes a $63.4 MM Acquisition Loan for Office Tower in Downtown Fort Lauderdale

First Priority Mortgage Loan

Loan Amount
$63,400,000
Property Type
Office
Location
Fort Lauderdale, Florida

BridgeInvest closed a $63.4 MM acquisition loan for 200 East Broward, a 1992-built, 21-story Class B+ office tower totaling 235,000 SF with an attached parking garage on Broward Boulevard in Downtown Fort Lauderdale, Florida. 

Transaction Highlights

  • Funds the acquisition and 100% of capital improvements and leasing costs, providing one capital source for the full business plan 
  • Property acquired nearly 15% below the 2017 purchase price and well below the Seller’s all-in basis, creating a runway for the business plan 
  • Excess contingency and a flexible capex budget allow Sponsor to adapt the business plan to changing market conditions and property needs 
Transaction media