PGA National Commerce Park$3,000,000
Refinance
Transaction Overview
Compass Commercial Mortgage, Inc. (“Compass”), the exclusive commercial real estate financing consultant for Decorator’s Unlimited (“DU”), successfully closed on the $3,000,000 refinancing of their light industrial flex building located in Palm Beach Gardens, Florida. Improvements consist of a two-story, flex building containing approximately 15,692 ± Rentable SF situated on a 1.06 ± Acre parcel. The improvements were constructed in 1987 and substantially renovated in 2023. At closing, the property was 100.00% leased and occupied by three (3) tenants.
Compass Role
Compass assisted DU by negotiating loan terms which accomplished all of the following objectives (i) advanced agressive cash-out proceeds, (ii) negotiated competitive owner-occupied financing without the guarantee of the operating company, (iii) secured a competitive five (5) year fixed interest rate and term with an additional five (5) year extension option, (iv) secured a 30-year amortization period to maximize company cash flows, (v) negotiated a limited two-year prepayment penalty, and (vi) proactively managed the loan process, closing on the new loan within 45-days of application.