FORT LAUDERDALE, FLA. — Ready Capital Structured Finance has closed an $11.9 million acquisition loan for Courthouse Place, a 66,260-square-foot, eight-story office building located at 12 S.E. 7th St. in Fort Lauderdale’s central business district. Built in 2007 near the 20-story Broward County Courthouse, the office building features three stories of office space atop a five-story parking garage. The asset was 88 percent leased at the time of financing to tenants such as Krupnick Campbell Malone Buser Slama Hancock Liberman, Legacy Bank of Florida and Apex Reporting Group. Jason Hochman of Cushman & Wakefield arranged the fixed-rate, three-year loan through Ready Capital Structured Finance. HRE/SEFIREA Courthouse Place LLC purchased the office building from an affiliate of West Palm Beach, Fla.-based Morning Calm Management LLC known as Courthouse Place Building Owner LLC for $13.7 million. Scott O’Donnell, Dominic Montazemi, Greg Miller, Deanna Lobinsky and Travis Herring of Cushman & Wakefield represented the seller in the transaction.
Courthouse Place is a 66,260-square-foot, eight-story office building located in Fort Lauderdale near the 20-story Broward County Courthouse.
Ready Capital Structured Finance Closes $11.9M Loan for Office Building in Fort Lauderdale
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