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| 105 - 111 East Atlantic Avenue, Delray Beach, FL |
Delray Beach, FL -- Kurt Hoffmann and Chris Caveglia of HC
Real Estate Capital have arranged $5,500,000 in financing for the prestigious
office and retail property located at 105-111 East Atlantic Avenue Delray
Beach, FL.
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| Chris Caveglia |
The 100% leased property is made up of two office and retail
buildings totaling 23,290 SF. The
tenants include: Cabana El Rey, Tramanti Restaurant, Mint Fit, Sloan’s Ice
Cream and Hennion & Walsh.
The properties are situated on approximately 0.55 acres of
land in the heart of Delray Beach on Atlantic Avenue.
Financing was arranged through a correspondent Life Insurance
Company relationship. The nonrecourse
loan carries a 15 term with 5 years of Interest Only and a 30-year amortization
schedule at a competitive fixed interest rate that replaced a maturing facility
on the property.
Chris Caveglia, Principal at HC Real Estate Capital
stated, “This was a very complicated
loan structure that will give the borrower the flexibility relating to the
development of an additional parcel of land behind the subject and the air
rights above the existing security of the loan.”
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| Kurt Hoffman |
Caveglia went on to say, “The borrower is taking advantage of the
low interest rate environment we are currently in.”
HC Real Estate Capital, LLC is a privately owned
mortgage-banking firm founded by Kurt Hoffmann and Chris Caveglia.
Based in Delray Beach, Florida, HC Real Estate
Capital arranges permanent and bridge commercial and multifamily real estate
loans.
The company has a broad capital
provider base that includes insurance companies, CMBS lenders, pension fund
advisors, and commercial banks.
For a complete
copy of the company’s news release, please contact:
Chris Caveglia
HC Real Estate Capital, LLC
660 Linton Blvd. Ste 200 EX5
Delray Beach, FL 33444
Direct: 561-266-3273
Mobile: 561-376-3176
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