Weda Developers scored a refinancing package on a 128,609-square foot office building in Coral Gables.
Cushman & Wakefield’s Jason Hochman and Ron Granite represented Weda in its transaction where they identified Lake Michigan Credit Union as the lender. The loan amounted to $12.5 million.
999 Ponce de Leon is an 11-story renovated office building that is 84.1% leased. The building offers structured parking, an on-site café and conference center, EV charging stations and visibility along the iconic Ponce de Leon Boulevard. Additionally, it is located near SW 8th Street, U.S. 1 and Le Jeune Road.
Weda Developers acquired 999 Ponce de Leon in 2005. They instituted a spec suite program and upgraded every suite to a more modern appeal. Additionally, they revamped corridors, installed LED lighting upgrades in common areas and refreshed building systems.
The post Weda Lands Refi on 128K-SF Coral Gables Offices appeared first on Connect CRE.
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