Interface Properties has acquired Fountains Center, a 189,542-square-foot mixed-use campus in Boca Raton, from Titan Realty Group for $40 million. The property combines office, retail and medical space in a single seven-building complex, reflecting a diversified tenancy profile within one location.
The campus is situated at the intersection of Powerline Road and West Camino Real, a position that gives it visibility and access within Boca Raton. Developed in two phases during the 1980s, Fountains Center has maintained strong occupancy and is currently reported to be 95 percent leased. The site also includes undeveloped land that is approved for the future construction of a 21,000-square-foot office building, providing a potential expansion option for the new ownership.
Interface Properties financed the acquisition with a $31.75 million loan from City National Bank. Part of the loan proceeds is earmarked for a capital improvement program at the campus, indicating that Interface plans to invest in upgrades to the property following closing. Commercial Search reports that Interface specializes in value-add transactions, aligning the planned improvement program with the firm’s broader investment strategy.
The tenant mix at Fountains Center spans financial services, healthcare and education. Notable tenants include CitiBank and Truist Bank, which anchor the financial services presence at the campus. The University of Miami Miller School of Medicine adds a medical component, while Salt Academy and Traditions South further diversify the user base. The combination of office, retail and medical users positions the campus as a multi-tenant environment serving different daily-use needs.
On the financing side, Berkadia’s Mitch Sinberg and Michael Basinski secured a five-year, fixed-rate loan on behalf of Interface Properties, formalizing the debt structure that supports the acquisition. City National Bank is the lender providing the loan capital. The fixed-rate nature of the financing establishes predictable debt service for the term of the loan while Interface executes its improvement program.
On the sales side, RARE CRE’s Nelson Garcia represented the seller, Titan Realty Group, in the transaction. The sale and financing together transfer control of a largely stabilized, mixed-use Boca Raton asset with embedded development potential to Interface Properties, supported by bank debt and a defined capital improvement plan.
