Lincoln Property successfully secured a $68.2 million refinancing for Royal Palm I and II, a two-building office complex in the heart of Plantation. The 465,592-square-foot development is located at 850, 900, 950 and 1000 S. Pine Island Rd., featuring two trophy towers with eight and nine stories each as well as a four-level parking garage with over one thousand spaces.
Constructed between the years of 2001-2007, Royal Palm I and II have undergone significant capital upgrades to provide top-of-the-line amenities for tenants including modern conference rooms, fitness center access, wellness rooms and other services.
JLL represented the borrower in securing this fixed-rate refinancing through Barclays. Led by Paul Stasaitis and Maddy McMillen from JLL Capital Markets Debt Advisory team worked diligently on behalf of their client to secure this deal.
Stasaitis commented on the successful refinance stating that “Both lenders are recognizing our favorable office-market fundamentals along with general market growth which creates an extremely attractive investment opportunity.”
