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| Hermen Rodriguez |
MIAMI, FL – HFF announced it has closed the sale of and
secured acquisition financing for Broward Financial Center, a 324,429-square-foot,
Class A office property in Fort Lauderdale, Florida.
HFF
marketed the property for the seller, DRA Advisors, LLC. AGS Property Corporation purchased the
property for $112 million free and clear of existing debt.
Additionally, HFF secured the $61 million, 10-year,
fixed-rate loan for AGS Property Corporation through Morgan Stanley Mortgage
Capital, Inc. HFF is servicing the
securitized loan.
Broward Financial Center is located at 500 East Broward
Boulevard at the intersection of Broward and South Federal Highway in Fort
Lauderdale’s Central Business District.
 |
| Manuel De Zarraga |
The 24-story building has views of the Atlantic Ocean from
its northeastern and eastern sides in addition to the upper floors of the
southern side.
The property, which was completed in 1986 and renovated in
2007, contains on-site casual and fine dining restaurants, a conference center
and full-scale gym.
Broward Financial Center is 90 percent leased to a variety
of tenants, including Sun-Sentinel Company; Fox Sports Net Florida, Inc.;
Premiere Beverage Company, LLC; Northwestern Mutual; Morton’s Restaurant Group
and Charles Schwab & Co. Inc.
The HFF investment sales team representing the seller
included senior managing director Hermen Rodriguez, executive managing director
Manuel De Zárraga, director Ike Ojala and associate director Jorge
Portela.
Financing was arranged by the HFF debt placement team led by
director Chris Drew and senior managing director Paul Stasaitis.
For a complete
copy of the company’s news release, please contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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