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BOCA RATON, FLA. — Grover Corlew has obtained a $61 million CMBS loan from Wells Fargo for the refinancing of two adjacent office properties in downtown Boca Raton. The assets include Palmetto Park City Center at 120 E. Palmetto Park Road and Bank of America Tower at 150 E. Palmetto Park Road.
Both properties are nearing full occupancy and have the highest lease rates among comparable office buildings in Boca Raton, according to Grover Corlew. The South Florida-based investment firm has invested more than $16 million in upgrades in the past few years at both properties, including a full-floor tenant buildout for Waypoint and the addition of the Mia Rosebud at Bank of America Tower.