Treasure Coast Center

$880,000 – Term Loan
$50,000 – Operating LOC
Renovation & Mini-Perm Loan

Transaction Overview
Compass Commercial Mortgage, Inc. (“Compass”), the exclusive commercial real estate financing consultant for Toro Holdings (“Toro”), successfully closed on an $880,000 real estate term loan and $50,000 operating line of credit to assist with acquisition financing for two (2) one-story, office buildings located in Port St. Lucie, Florida. The buildings were constructed in 1992 and consist of twin buildings containing a combined 6,500 ± SF. The property is currently 100% leased and occupied by three (3) tenants.  After closing, America Dentistry (Operating Company) will backfill space created by a departing tenant and begin the build-out of their new dental office.

Compass Role
Compass assisted Toro by proactively managing the loan process and negotiating superior loan terms which accomplished all of the following objectives (i) provided competitive owner-occupied financing despite America Dentistry occupying 25% of the premises (the typical threshold is 51% or more), (ii) advanced funds for build-out of the new dentistry space, (iii) secured interest only payments for the first 9 months (renovation period), (iv) negotiated a competitive declining prepayment penalty allowing the Borrower to refinance should interest rates decline, and (v) secured an operating line of credit to fund short-term working capital.

America Dentistry
America Dentistry is a full-service dental practice located in Lake Worth, Florida. The practice is expanding and the Treasure Coast Center will be their second location. Services include Exams, Digital X-Rays, Extractions, Composites, Crowns, Bridges, Dentures, Root Canal Therapy, Implants, 3D xrays, Invisalign, Teeth Whitening, Cleanings, Sealants, and Veneers.

About Compass
Compass is a full-service boutique commercial mortgage brokerage operating for Borrowers since 1996 and specializing in the professional underwriting, packaging, negotiation, and placement of commercial real estate debt throughout the State of Florida and nationwide. We believe commercial real estate finance to be an active process. We remain fully engaged in each transaction from the first conversation to the loan closing. It is specifically this attention to detail that leads to superior outcomes for our clients, including better loan terms and structure, rapid execution, lower interest rates, and reduced closing costs.