Joe Hepp of Dockerty Romer & Co. has arranged permanent mortgage financing for a Class “A” 30,000 SF office building known as Westview Plaza, in Port St. Lucie. Built in 1998, the property is located at 1850 SW Fountainview Blvd, just east of the I-95 and the St. Lucie West interchange, and is located within the St. Lucie West master planned community. The property is currently 88% occupied and boasts an impressive roster of tenants which include; Keyes Real Estate, Tenet Healthcare, Pediatric Associates, and Comcast to name a few.

Hepp arranged the financing on behalf of their client PSL 1850 LLC through conduit lender, Rialto Capital. The loan proceeds were utilized for the acquisition and allowed the owner to 1031 exchange the proceeds received from a previous sale.

“Without the persistent efforts and market leading expertise of Dockerty Romer & Co., we would never have been able to finance this property in the timeframe required, while at the same time achieving the requested rate and loan proceeds. With owners in multiple states, all different from where the property is located, there was a real potential for complications, however the transaction ran smooth from start to finish,” said the Managing Member of PSL 1850 LLC.

Hepp commented that, “The borrower and the lender were highly focused and professional in all areas of this transaction, which resulted in completing this transaction, in a very short time frame.” Hepp stated that, “It was truly a pleasure working with an extremely experienced and knowledgeable borrower. Our client is very bullish on Port St. Lucie, and the St. Lucie West sub-market, and is committed to investing in multiple South Florida markets.”

Dockerty Romer & Co. based in Delray Beach, Florida is a full service commercial mortgage banking company specializing in the capitalization of income producing properties. Dockerty Romer & Co has closed nearly $5 Billion of real estate transactions since its inception in January 2000.