Mesa West Capital Provides $56.8M Acquisition Loan for Office Building in West Palm Beach

WEST PALM BEACH, FLA. — Mesa West Capital has originated a $56.8 million acquisition loan for Northbridge Centre, a 287,000-square-foot, Class A office building located at 515 N. Flagler Drive in West Palm Beach. The sponsor, 515 N. Flagler Drive Owner LLC, recently acquired the property from Gaedeke Group, which had owned the building for 20 years. The floating rate loan includes a future funding component to be used toward leasing costs, according to Mesa West Capital. Built in 1987 and renovated in 2002, the office building was 71 percent leased at the time of sale.