Eastern Union Funding Arranges Acquisition Financing for Doral, Fla. Retail Property in Sale-Leaseback Transaction
Wednesday, September 28, 2016
Doral, Fla. (September 2016)—Eastern Union Funding managing director David Betesh has arranged a $3 million acquisition loan with Mercantil Commercebank for the purchase of 8210 NW 36th St., in Doral, Fla., on behalf of the borrower Famous Capital, LLC. The 6,645-square-foot, single-tenant retail property is home to a Famous Dave's barbecue restaurant.
Aventura, Fla.-based Axiom Capital Advisors (Axiom) represented Famous Capital, LLC in the off-market acquisition, a sale-leaseback for the seller BCBK Investment Group, LLC. The purchase price was not disclosed.
The freestanding building—situated on a 60,603-square-foot lot—is located on the busy NW 36th Street Doral artery. It is adjacent to the widely anticipated mixed-use development CityPlace Doral, a “smart-growth” community that is nearing completion.
"This location provides the buyer with a safe long-term investment in a top-tier market. Doral is a hub for successful restaurant chains," said Axiom Principal Roberto Susi. "The recent success of this Famous Dave's restaurant and proximity to CityPlace Doral was very attractive to the buyer.”
Founded in 2001, Eastern Union Funding is the country's second most active commercial mortgage company, on a transaction volume basis, and one of the top 50 fastest growing companies in NYC as reported by Crain's New York Business the past two years straight. A trusted advisor to its clients and innovation leader in the commercial mortgage marketplace, Eastern Union closes an average of $3 billion annually nationwide. The firm’s sophisticated debt solutions are complemented by a one-of-a-kind Equity Division. Eastern Union is headquartered in New York, with offices in New Jersey, Maryland and Israel. For more information, visit www.easternuc.com.
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