United Bank of Charleston, W. Va., provided an $8 million loan to the buyer.
South Florida Business Journal A company managed by Alexander H. Griswold of Boca Raton, Fla., has sold the 32,778-square-foot office building at 450 Royal Palm Way in Palm Beach, Fla., for $17 million, or about $518.64/sf. A company managed by ...
Palm Beach Park Centre First Republic Bank provided $19.25 million of acquisition financing.
83 percent leased. CIBC Bank USA provided $22.84 million of financing for the deal.
Citibank provided a $14.6 million loan for the purchase.
Sun National Bank of New Jersey provided $8.4 million of debt for the purchase.
The property backs $81.5 million of debt that's securitized through Banc of America Commercial Mortgage Inc., 2005-5. O'Connor, of New York, is assuming the debt.