One Eleven. Picture courtesy of CommercialEdge
Lincoln Property Co., has acquired $40.7 million for One Eleven, a 348,884-square-foot mixed-use property in Orlando, Fla. Morgan Stanley supplied the five-year, full-term interest-only mortgage. Berkadia organized the deal, engaged on behalf of the borrower.
In 2013, the property turned topic to a $46.9 million CMBS mortgage originated by Ladder Capital, with Wells Fargo performing as grasp servicer, in line with CommercialEdge data. The notice was on account of mature in July.
A mixed-use constructing in Orlando’s CBD
Accomplished in 2008, the 30-story property encompasses 152,360 sq. toes of workplace area, together with 11,076 sq. toes of ground-floor retail and 164 luxurious flats. The tower’s residential portion, branded as Aspire, is saved distinct from its business section by way of separate lobbies.
The workplace element of the LEED Gold-certified constructing options 21,500-square-foot floorplates. Tenants embrace Ocean Financial institution, McDonald Toole Wiggins PA, Atwell Engineers, Skanska and Huitt-Zollars, amongst others.
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Positioned at 111 E. Washington St. close to Interstate 4, the high-rise is inside Orlando’s central constructing district. The property is adjoining to Lake Eola and a few 4 miles from Orlando Govt Airport.
The Berkadia South Florida workforce which secured the financing included Senior Managing Director Charles Foschini and Managing Director Chris Apone, together with Affiliate Director Shannon Wilson. In ready remarks, Foschini talked about the problem of sourcing loans for belongings that embrace workplace parts within the present financial panorama.
Not too long ago, Foschini and Apone had been concerned in arranging a $113 million refinancing for a 220,000-square foot workplace and retail constructing in Miami. A10 Capital supplied the three-year mortgage.
