Bob Dockerty and Nancy Dockerty of Dockerty Romer & Co., a RECA member, have arranged acquisition-bridge financing in the amount of $6,500,000 for a flex/industrial center located in Hollywood, FL.
The subject property, located at 2850 Greene St. is a 60,000 SF 100% vacant industrial building and is located between Stirling Rd. and Sheridan St. and has frontage along I-95.
Dockerty Romer & Co. worked on behalf of their client Avid Asset Properties Hollywood, LLC to arrange the financing. The borrower acquired the asset thru a 1031 exchange. Ready Capital provided short term bridge financing which will allow the owner to pursue his business plan. Dockerty commented, “The lender was able to close the loan within a short period of time which was critical for the borrower’s business plan”.
About Dockerty Romer & Co.
Dockerty Romer & Co., a RECA member, based in Delray Beach, Florida is a full service commercial mortgage banking firm 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. (www.dockertyromer.com)
About Ready Capital Structured Finance
Ready Capital Structured Finance (RCSF) is a nationwide commercial real estate bridge and mezzanine lender offering non-recourse financing on transitional, value-add and event-driven commercial and multifamily real estate opportunities. RCSF is a direct lender that provides comprehensive financing solutions to real estate owners, investors and small business owners, which generally range in original principal amounts between $2 - $50 million and portfolios greater than $50 million. RCSF is a division of a subsidiary of Sutherland Asset Management Corporation (NYSE "SLD"), a full-service real estate finance company externally managed by Waterfall Asset Management, LLC.