1601 Washington
1601 Washington Ave, Miami Beach, FL, 33139-3164, US
12 829 mètres carrés
Attributs
Loan Purpose
Acquisition
Lien
First Mortgage
Original Balance
$23.4 Million
Current UPB
$21.4 Million
Current UPB PSF
$184
Appel d'offres
08/25/2026
Descriptif
Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis by the Seller to arrange the sale of a $21.4 million non-performing loan (the “Loan”). The Loan is secured by first-lien mortgage on a five-story office building in Boca Raton, FL (the “Property” or “Collateral”). Originated in 2021, the Loans had an initial principal balance of $23.4 million, with a floating interest rate of SOFR + 1.80%. The Loan matured in January 2026, and as of June 2026, the unpaid principal balance stands at $21.4 million.
The Collateral comprises a class A office building constructed in 1989 and located in the premier live-work-play destination of Boca Raton, Florida. The Property features 115,986 square feet of net rentable area in a highly sought after and amenitized submarket. As of March 2026, the Property was 86.2% leased.
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Points forts de l'investissement
Strong In-Place Operations
The Property is 86.2% leased with favorable leasing momentum, providing stable cash flow and future occupancy.
Premier Live-Work-Play Destination
Located in one of South Florida’s most amenitized submarkets, the Property benefits from proximity to high-end retail, dining, residential communities, and recreational facilities that create a compelling work environment and attract quality tenants seeking locations with superior lifestyle amenities.
Irreplaceable Site with Strong Land Basis
The 9.65-acre site in a supply-constrained Boca Raton submarket offers inherent value protection, with the land component providing significant downside protection.
Business Plan Optionality
Having reached scheduled maturity, the Loan affords a purchaser the flexibility to remain in a lender position via extension or modification, or to pursue remedies and acquire the fee.
Média
$21.4 Million Non-Performing Loan | Boca Raton, FL (0 Propriétés)
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Dernière mise à jour
Jul 21, 2026