Fiddich Review Centre
Alternative Investment

Cushman & Wakefield Arranges $92 Million in Refinancing for 322-Unit Aura Boca Apartment Community Located in Boca Raton, Florida

BOCA RATON, FL – Cushman & Wakefield announced today that the real estate services firm served as the exclusive advisor to institutional investors advised by J.P. Morgan Global Alternatives in the procurement of $92,000,000 of financing for Aura Boca, a recently completed 322-unit multifamily property located at 789 W Yamato Road in Boca Raton. The fixed rate loan was provided by MetLife Investment Management on behalf of a client.

A Cushman & Wakefield Equity, Debt & Structured Finance team of Steven Kohn, Alex Hernandez, Alex Lapidus and Chris Meloni, represented the borrower in the transaction.

“Since opening, Aura Boca has experienced tremendous leasing velocity and achieved exponential rent growth,” said Hernandez. “Residents of the newly-constructed property benefit from superior access to major transportation hubs and modern amenities including a state-of-the-art fitness studio, resort-style pool and outdoor lounge areas.”

Aura Boca consists of 506,916 square feet on 3.78 acres of land. The property features 8,000 square feet of amenities including a fitness center, pool with waterfall, tanning ledge, jacuzzi, private cabanas, enclosed bicycle storage and an on-site parking garage.

Aura Boca is located in Boca Raton’s residential district in close proximity to beaches, retail, dining and entertainment options. The asset is less than a mile to Interstate 95 and the Boca Raton Tri-Rail Station, providing convenient access to downtown West Palm Beach and Miami.

About Cushman & Wakefield: Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter. 

About J.P. Morgan Global Alternatives and J.P. Morgan Asset Management – Real Estate Americas: J.P. Morgan Asset Management – Real Estate Americas is the U.S. real estate investment platform of J.P. Morgan Global Alternatives. With US$73 billion (Gross Asset Value as of September 30, 2022) in assets under management and 180 professionals, the platform offers real estate strategies that span from core to opportunistic and across debt and equity. J.P. Morgan Global Alternatives is the alternative investment arm of J.P. Morgan Asset Management. With more than 50 years as an alternatives investment manager, US$216 billion in assets under management and more than 800 professionals (as of September 30, 2022), J.P. Morgan offers strategies across the alternative investment spectrum including real estate, private equity, private credit, hedge funds, infrastructure, transportation, timber and liquid alternatives. Operating from offices throughout the Americas, Europe and Asia Pacific, our independent alternative investment engines combine specialist knowledge and singular focus with the global reach, vast resources and powerful infrastructure of J.P. Morgan to help meet each client’s specific objectives. For more information, visit jpmorgan.com/am

Source link

Related posts

The alternative to selling your practice (that nobody talks about)

Mandy

MENA investment banking fees rises 18% to $806mln in H1 2022

Mandy

Jensen Partners Opens New Location in Miami, Expanding Global Reach

Mandy

Leave a Comment