HFF ARRANGES $19.9 MILLION LOAN FOR FLORIDA OFFICE BUILDING

DORAL, FLA. — The Miami office of Holliday Fenoglio Fowler (HFF) has arranged a $19.9 million loan for a newly constructed Class A office property in Doral. Located in downtown Doral, the property offers 150,000 square feet of office space and is adjacent to the Doral Resort. Currently, the property is 29 percent leased. The borrower is a joint venture between Codina Partners and institutional investors advised by J.P. Morgan Asset Management. The 2-year, floating rate loan was financed through Bank of America Merrill Lynch. Paul Stasaitis, Manny de Zárraga and Ignacio Portuondo of HFF represented the borrower in the transaction.