CRONHEIM MORTGAGE ARRANGES $5,500,000 FINANCING FOR

OFFICE PROPERTY IN FORT LAUDERDALE, FLORIDA

FORT LAUDERDALE, FL - David Cronheim Mortgage Corporation has secured $5,500,000 in financing for a five-story, 56,697 square foot office building located in Fort Lauderdale, Florida. The loan carries a 10-year term and 30-year amortization. The property is located on North Andrews Avenue, directly off of Cypress Creek Road and it is situated on 2.59-acre parcel of land and is 92% occupied by 16 tenants.  Cypress Creek Road is local east/west commercial thoroughfare, providing direct access to Interstate 95 and US Route 1. 

“The property is well located in its respective submarket,” said Cronheim’s David Turley. “By understanding the competitive advantage created by the superior location and access, we were able to dissect the market vacancy and underwrite a lower vacancy rate than properties located just down the street.”