Ocean Bank has provided $9.5 million for the purchase.
84 percent occupied. The five-building property had served as collateral for a $101.5 million mortgage that was securitized through Morgan Stanley Capital I Trust, 2007-HQ12. Pearlmark, then known as Transwestern Investment Corp., had purchased the property in 2007. At the ...
CRE Properties bought 320 Miracle Mile, while Coral Gable Enterprises bought 321 Miracle Mile
90 percent leased. It backs a $56 million mortgage that was securitized through Merrill Lynch Mortgage Trust, 2004-MKB. The financing carries a coupon of 5.13 percent and matures in March 2011.
Property is 96 percent leased by such tenants as RTKL, Coldwell Banker, Campbell's Soup, Starbucks, Wolfberg, Alvarez and Packman, Neuwahl.
The building is about 93 percent occupied by such firms as UBS, Cartier and Finser Corp.