Wednesday, April 6, 2011
MIAMI, FL – HFF announced that it has secured a $50 million refinancing for The AutoNation Building (top left photo), a 204,337-square-foot mixed-use office and retail complex plus a 522-space parking garage in downtown Fort Lauderdale, Florida.
Working exclusively on behalf of Stiles Financial Services, HFF placed the seven-year, 6.22 percent fixed-rate loan with JP Morgan Chase & Company. Loan proceeds are being used to refinance existing debt that matured in March 2011.
Completed in 2007, The AutoNation Building is 90 percent leased to key corporate tenants, including Auto Nation, Ever Bank, and law firms Kopelowitz Ostrow and Lewis Brisbois Bisgaard & Smith.
The 17-story property is located at the corner of Las Olas Boulevard and SW First Avenue within walking distance to Las Olas’ restaurants, museums, the Federal Courthouse and Florida Atlantic University’s Broward County campus.
Senior managing director Paul Stasaitis (middle right photo) led the HFF team, which included managing director Danny Finkle (lower left photo) and associate director Kimberly Flores.
“This transaction further illustrates continued improvement within the capital markets, particularly as it relates to best in class owners of high-quality real estate,” commented Stasaitis.
Ft. Lauderdale-based Stiles has developed more than 37 million square feet of office, retail, residential, mixed-use, and industrial properties throughout the southeastern United States.
In addition to development, construction, architecture, realty and property management, Stiles also specializes in financing, acquisitions and asset repositioning.
Paul Stasaitis, HFF Senior Managing Director, (305) 448-1333, email@example.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, firstname.lastname@example.org