Cushman & Wakefield has negotiated the sale and financing of Kendall Summit Office Park, a six-building office campus in the dense Kendall micro-market of Miami-Dade County.
The Cushman & Wakefield Capital Markets team of Miguel Alcivar, Mike Davis, Dominic Montazemi, Scott O’Donnell, Greg Miller, Rick Brugge and Michael Lerner negotiated the sale on behalf of Boston-based TA Realty. Miami-based COFE Properties acquired the 173,661-square-foot office park for $34.75 million, or $200 per square foot.
Jason Hochman of Cushman & Wakefield’s Equity, Debt & Structured Finance Group assisted COFE Properties in securing a $26 million non-recourse acquisition loan with a low interest rate. The loan provided funds at closing and additional proceeds for future property renovations and leasing costs.
Kendall Summit Office Park was developed between 1984 and 1989 and comprises six buildings ranging between one and four stories at 11400–11440 North Kendall Drive.
