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| Melissa Rose |
MIAMI, FL – JLL Capital Markets has arranged a $48.9 million refinancing for Tower 101, two Class A office towers totaling 230,757 square feet near downtown Fort Lauderdale, Florida.
JLL worked on behalf of the borrower, Ivy
Realty, to place the three-year, floating-rate loan with Rialto Capital
Management.
The JLL Debt Advisory team included Managing
Director Melissa Rose and Analyst Giancarlo Paone.
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| Rendering of Tower 101, two Class A office towers totaling 230,757 SF near downtown Fort Lauderdale, FL |
“Tower 101 is optimally positioned to capture
the robust leasing demand, as out-of-state tenants seek Class A space in our
fast-growing and business-friendly commercial environment,” Rose said.
Loan proceeds were used to refinance existing
debt and fund future capital improvements and leasing costs.
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| Giancarlo Paone |
The borrower invested significant capital in
2020 into property renovations, which included outfitting the structured
parking with EV charging stations; upgrading the full-service café, lobby and
common areas; and modernizing the exterior entrance.
Additional building amenities offered are
24-hour security, conference facilities and a courtesy shuttle to the Broward
County Courthouse.
Located at 101 NE 3rd Ave., the towers are
positioned just off E. Broward Boulevard at the nexus of Fort Lauderdale’s CBD
and Flagler Village, an urban live-work-play district.
The towers are proximate to the Fort Lauderdale
Brightline inner-city rail station, which connects the urban cores of Miami,
Fort Lauderdale and West Palm Beach to offer commuters access to each community
within 30 minutes.
For more news, videos, and research resources on
JLL, please visit our newsroom.
Contact:
Kimberly Steele,
JLL Manager
Public
Relations
Phone: +1 713 852 3420
Email: Kimberly.Steele@am.jll.com
