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| Art Falcone |
MIAMI,
FL -- Concord Summit Capital, LLC (“Concord
Summit”) announced the successful financing of a 172, 959 square-foot
Class A office building in Fort Lauderdale, Florida in the amount of $38.3
million.
The property is located within a 27-acre mixed-use
development which includes ±760 multifamily units, ±150,000 square feet of
high-end retail and ±400 hotel rooms being delivered in two phases from 2Q
2020-2022.
The
office building, owned by Encore Capital Management (“Encore”), recently
underwent $15 million in renovations, including a redesigned modern building
lobby, full elevator upgrades, new corridors, new bathrooms and new modern
tenant buildouts.
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| Kevin O’Grady |
Concord
Summit served as financial advisors to Encore Capital Management on this
transaction.
During a COVID-affected lending environment, Concord Summit successfully structured, negotiated and secured several competitive bids that resulted in the selection of New York Life.
During a COVID-affected lending environment, Concord Summit successfully structured, negotiated and secured several competitive bids that resulted in the selection of New York Life.
“Art
Falcone and Encore have been valuable clients for us for many years and
hopefully many more years to come, and we are very proud to have brought New
York Life to them as a new relationship,” said Kevin O’Grady, Managing
Director of Concord Summit.
CONTACT:
Todd
Templin
Executive
Vice President
BoardroomPR
O 954-370-8999
C 954-290-0810
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