**MHCommercial and Waterfall Secure $43M Refinance for Palm Beach Gardens Office Complex**
MHCommercial Real Estate Fund, in partnership with Waterfall Asset Management, has successfully refinanced Oakbrook Center, a premier office complex located at 11760 U.S. Highway 1 in Palm Beach Gardens, Florida. The 243,000-square-foot property was refinanced for a total of $43 million.
The refinancing was arranged by Northmarq’s West Palm Beach Debt + Equity team, led by David Gahagan and Chandler Kaye. Deutsche Bank provided the funds through its Commercial Mortgage-Backed Securities (CMBS) platform. The transaction was structured with a five-year term.
Originally built in 1985, Oakbrook Center comprises three Class A office buildings on an 11.5-acre site. The complex offers numerous modern amenities, including covered parking, on-site professional property management, a state-of-the-art fitness center with Peloton bikes, cardio and weight equipment, and private showers. Additional features include stacked private terraces, floor-to-ceiling windows, lush landscaping, a central courtyard, and scenic water views.
MHCommercial and Waterfall acquired the property—formerly known as Golden Bear Plaza—in May 2020 and have since completed a series of strategic upgrades and capital improvements to enhance its appeal and functionality.
