Fort Lauderdale, FL – February 24, 2016 – CBRE Capital Markets’ Debt & Structured Finance team arranged a $33.3 million loan to refinance Cypress Financial Center, an 11-story 196,663 square-foot office center that is the tallest building in the Cypress Creek submarket of Fort Lauderdale, Florida.
Christian Lee, Amy Julian, José Lobón, Charles Foschini and Chris Apone of CBRE’s Miami, Florida office arranged the refinancing on behalf of Apollo Global Management and Steelbridge Capital. Square Mile Capital Management provided the five-year, floating rate loan.
“Since a change in ownership a little more than a year ago, impressive exterior renovations have been completed and interior upgrades are underway to cement Cypress Financial Center’s position as the premier asset within the Cypress Creek submarket. Square Mile's loan structure gives the owners the flexibility to complete the ongoing improvements and aggressively lease-up the property to a stable occupancy,” said CBRE Vice President Amy Julian.
High-end finishes, attractive landscaping, prominent signage, and immediate frontage and visibility along Interstate-95 make Cypress Financial Center the most desirable office destination in Cypress Creek. It is also the submarket’s only building with a direct access ramp to Interstate-95. Additional features include an on-site deli, six-story parking garage, and a location within walking distance of restaurants, hotels and financial institutions.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue).The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.