BOCA RATON, FLA. — CBRE’s capital markets debt and structured finance team has arranged $71.6 million in acquisition financing for an office portfolio in Boca Raton. Spanning 330,438 square feet, the portfolio includes two Class A office buildings: The Plaza at 5355 Town Center Road and One Town Center at 1 Town Center Road. Charles Foschini, Christian Lee and Christopher Apone of CBRE’s Miami office arranged the 3.5-year bridge loan through Mesa West Capital LLC on behalf of the borrower, Boca Raton-based Crocker Partners. The interest-only loan was structured with a floating interest rate. Crocker Partners purchased the portfolio from MetLife Real Estate Investors. Lee, Foschini and Apone, along with Jose Lobon and Michael Erickson of CBRE, represented MetLife in the transaction.
One Town Center is located at 1 Town Center Road in Boca Raton, Fla. (Photo courtesy of CBRE)
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