Related Ross, JZ Capital Partners and Greenmont Group have secured a $145m (€123m) loan from Hudson Bay Capital Management to refinance a fully-leased 256,000sqft US office building.
The trio have secured the refinancing for the 17-storey Esperanté office building located in West Palm Beach’s Flagler waterfront district in Florida. The financing was facilitated by Eastdil Secured.
Jordan Rathlev, EVP at Related Ross, said: “Esperanté has become a premier address for top financial and investment firms and demonstrates the Flagler waterfront’s continued appeal as a destination for leading businesses.
“Closing this refinancing with a new capital partner reinforces the depth of investor conviction in West Palm Beach as a business district. We’re pleased to establish our new capital partnership with Hudson Bay Capital and remain focused on investing in the long-term growth of the waterfront district.”
Zachary Cion, managing director at Hudson Bay, said: “Related Ross’s commitment and long-term vision for West Palm Beach has been transformational for the city, and we believe the market continues to benefit from strong fundamentals and sustained investment.”
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