REBusinessOnline

Ready Capital Closes $6.4M Acquisition Loan for Office Building in Palm Beach County

The 100,000-square-foot office building is located at 3301 Quantum Blvd. in Boynton Beach, Fla.

BOYNTON BEACH, FLA. — Ready Capital Structured Finance has arranged a $6.4 million loan for the acquisition, renovation and stabilization of a 100,000-square-foot office building located at 3301 Quantum Blvd. in Boynton Beach, a city in Palm Beach County. Ready Capital arranged the three-year, floating-rate loan with two extension options and flexible prepayment on behalf of the undisclosed borrower. Planned renovations include landscaping upgrades, HVAC replacement, parking lot repairs, common area modernization and roof replacement, followed by a re-tenanting of the property at market rental rates.

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