Sunday, July 28, 2024

The Easton Group secures $20 million refinancing of Doral, FL office building

 REFINANCED:an eight-story office building

 at 8600 NW 36th Street in Doral, FL 

 

 Doral, FL  The Easton Group secured a $20 million loan to refinance an 8-story office building at 8600 NW 36th Street in Doral.  

 The permanent financing provided by City National Bank paid off a bridge loan that Easton used to acquire the Offices at Doral Square for $28.5 million in December 2023.


Andrew Easton


 “Since buying this asset, leasing activity has been better than expected giving us an opportunity to secure long-term debt with more favorable terms.” said Andrew Easton, vice president of The Easton Group’s office division. 

 

In May, the real estate firm announced three new leases at the 141,246-square-foot building, equating to about 10% of the total rental space. Grupo Eulen, a global company that offers facility management and airline services, leased 6,026 square feet;

 

Vanderweil Engineers, one of the U.S.'s largest independently owned engineering firms, took 5,160 square feet; and mortgage firm Trust Lending leased 3,015 square feet. 

 

The Offices at Doral, located in the heart of the city, was built in 1984 and underwent a $10 million facelift by the previous owner.

 

Edward W. Easton

 

 About The Easton Group:

The Easton Group is a family-owned commercial real estate firm with three generations of Eastons working in the business.. Chairman Edward W. Easton founded the company 50 years ago, and today it controls a portfolio of approximately five-million square feet in Miami-Dade County.

Contact:

 

Todd Templin

Executive Vice President

BoardroomPR

O 954-370-8999

C 954-290-0810

ttemplin@boardroompr.com

 

www.theeastongroup.com.

 

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