Saturday, June 24, 2017

HFF closes $59.75 million sale of and arranges $33.5 million in financing for Peninsula Executive Center in Boca Raton, FL

Peninsula Executive Center, Boca Raton, FL

Chris Drew
MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $59.75 million sale of and arranged $33.5 million in financing for Peninsula Executive Center, a 187,784-square-foot, Class A office property in Boca Raton, Florida.

HFF marketed the property on behalf of the seller and procured the buyer, C. Talanian Realty Co.  Additionally, HFF worked on behalf of the new owner to secure the long-term, fixed-rate financing through Principal Real Estate Investors. 

Peninsula Executive Center consists of two four-story office buildings and a 742-space parking structure located at 2381 and 2385 Executive Center Drive in Boca Raton. 

This location is centrally located in the heart of Boca Raton’s most coveted office submarkets and adjacent to the Midtown Boca district.  Additionally, the property is surrounded by an abundant amount of executive housing and amenities, including Town Center Mall and University Commons.  The property is currently 97 percent leased and is anchored by Newell Brands. 

Hermen Rodriguez
The HFF team was led by senior managing directors Chris Drew and Hermen Rodriguez, director Ike Ojala, associate director Brian Gaswirth and associate Matthew McCormack.

“This acquisition marks the first major investment in South Florida by C. Talanian Realty Co.,” said Drew.  “The buyer was attracted this opportunity due to its main and main location within the heart of Boca and the durable long-term cash flow. 

“A number of balance sheet lenders aggressively pursued this opportunity; however, Principal was ultimately selected due to their deep knowledge of the Boca office market and their ability to structure a creative financing solution.”

Rodriguez added, “This was a highly sought after investment opportunity in the very dynamic West Boca office market.”

 For a complete copy of the company’s news release, please contact:

 Kristen M. Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |


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