IMMEDIATE RELEASE - Dockerty Romer
IMMEDIATE RELEASE Contacts: Bob Dockerty
(561) 330-8000
bdockerty@
Dockerty Romer & Co.
Arranges $105,280,000 Sale and the $50,000,000
Mortgage Financing for a 252,244 SF Office Building in Aventura Florida
DELRAY BEACH, FLORIDA –May 2016 – Bob Dockerty of Dockerty Romer & Co. has arranged the $105,280,000 purchase of, and the $50,000,000 acquisition financing for a 252,244 SF office building, known as Aventura Corporate Center located in Aventura Florida. HFF was the listing sales broker representing the Seller, ACC/GP Development LLC and ACC/GP Investment LLC.
The property, which consists of two, five-story and one, six-story Class “A” office buildings and three parking garages also has additional development rights. The property is situated along Biscayne Blvd, the main thoroughfare in Aventura. Some of the major tenants in the property include Morgan Stanley, South Broward Hospital, Regus, and Serendipity Labs.
The acquisition financing was arranged by Prudential Mortgage Capital Company, which provided a 7 year loan term at an extremely competitive rate. Dockerty commented. “This loan was highly competed for by all the major life insurance companies and after a significant search, The Prudential Insurance Company of America won the financing.”
The Buyer, Renaissance Aventura LLC, which is affiliated with the investors Kenneth and Robert Fishel, executed a 1031 exchange out of a Manhattan asset to acquire this office complex. They are a second generation family office owning multi-family and office investments mostly in metro NYC. They are extremely experienced and have future development options available to them at this site.
Dockerty Romer & Co. based in Delray Beach, Florida is a full service commercial mortgage banking and real estate brokerage company specializing in the capitalization of income producing properties. Dockerty Romer & Co. has closed nearly $6 Billion of real estate transactions since its inception in January 2000
Prudential Mortgage Capital Company is an international full-service, commercial and multifamily
mortgage finance business with $86.96 billion in assets under management and administration as of
March 31, 2016. Leveraging a 140-year history of real estate finance, the company offers one of the
most comprehensive lines of real estate finance products and originates loans for Fannie Mae DUS®,
Freddie Mac Program Plus® and specialized affordable housing programs; FHA; Conduit; Prudential’s
general account; and other institutional investors. The company maintains a loan servicing portfolio of
approximately $84.6 billion as of March 31, 2016. For more information, please
visit .
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