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| GAI Building, 618 East South Street, Thornton Park neighborhood, Orlando, FL |
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| Michael Weinberg |
ORLANDO, FL –HFF announced today that it has secured $24.425
million in financing for the GAI Building, a 106,506-square-foot, Class
A office building in downtown Orlando.
HFF worked on behalf of 618 East South Street, LLC, an
affiliate of the Ustler Group of Companies, to secure the 10-year, fixed-rate
loan through GE Capital Real Estate.
Loan proceeds will replace existing construction debt on the property.
The GAI Building is located at 618 East South Street in
Thornton Park at the eastern gateway to downtown Orlando. Built in 2011, the seven-story building is
the first privately-developed, LEED-certified office property in downtown
Orlando. The building is more than 90
percent leased and is anchored by GAI along with XOS Digital and Regus.
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| Elliott Throne |
The HFF team representing the borrower was led by associate
director Michael Weinberg and real estate analyst Whitaker Leonhardt
in HFF’s Orlando office along with director Elliott Throne from HFF’s
Miami office.
“The Ustler team was able to deliver and stabilize another
best-in-class asset to downtown Orlando during one of the most difficult
economic downturns of our generation.
Their hard work translated into tremendous capital markets interest in
the asset,” stated Weinberg.
Based in Orlando, the Ustler Group of Companies consists of
various commercial real estate development, brokerage, ownership, management
and investment entities with a focus on downtown Orlando and urban infill
opportunities. For more information,
please visit www.ustler.net.
For a complete
copy of the company’s news release, please contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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