$327M Financing Secured on Buildings at 2 Miramar Business Parks
Buildings at Countyline Business Center and Trammell Crow Industrial Center are used as collateral for the financing.
October 07, 2019 at 01:58 PM
2 minute read
Countyline Business Center at 3701 Flamingo Road in Miramar. Photo: Google
An affiliate of the alternative investment giant Blackstone Group Inc. obtained $327 million in financing for three of its flex office-industrial properties in Miramar.
Blackstone Real Estate Advisors LP took out the loan against a building at Countyline Business Center and two buildings at Trammell Crow Industrial Center on Sept. 17, according to Broward County real estate records.
The Countyline Business Center is a 550,212-square-foot building north of Florida's Turnpike at 3701 Flamingo Road near the Miami-Dade-Broward county line, according to the county property appraiser's office. It's a two-mile drive from the turnpike ramps.
To the north are the two Trammell Crow facilities, an 80,600-square-foot and 109,109-square-foot building on 12 acres north of Miramar Parkway at 2601 and 2701 SW 145th Ave. They are a mile from Interstate 75 ramps.
All three buildings were constructed in the early 2000s.
The lending syndicate includes Citigroup Inc., Bank of America Corp., Barclays Capital Real Estate Inc., Deutsche Bank AG, Goldman Sachs Group Inc. and JPMorgan Chase & Co.
One of the Countyline tenants is a distribution center for home goods store Floor & Decor. Trammell Crow is home to a Comcast call center, among others.
Broward County records list three $327 million mortgages, one for each of the properties used as collateral.
Blackstone Real Estate Advisors, the real estate subsidiary of New York-based Blackstone Group, took out the financing using affiliates Icon Owner Pool 5 South FL LLC and Icon IPV Allagash Florida Owner Pool 5 South FL LLC.
Related stories:
Blackstone Invests in Miami Industrial Market With $56 Million Airport Trade Center Buy
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Fowler White Burnett Opens Jacksonville Office Focused on Transportation Practice
3 minute read
How Much Coverage Do You Really Have? Valuation and Loss Settlement Provisions in Commercial Property Policies
10 minute read
The Importance of 'Speaking Up' Regarding Lease Renewal Deadlines for Commercial Tenants and Landlords
6 minute read
Meet the Attorneys—and Little Known Law—Behind $20M Miami Dispute
Trending Stories
- 1Uber Files RICO Suit Against Plaintiff-Side Firms Alleging Fraudulent Injury Claims
- 2The Law Firm Disrupted: Scrutinizing the Elephant More Than the Mouse
- 3Inherent Diminished Value Damages Unavailable to 3rd-Party Claimants, Court Says
- 4Pa. Defense Firm Sued by Client Over Ex-Eagles Player's $43.5M Med Mal Win
- 5Losses Mount at Morris Manning, but Departing Ex-Chair Stays Bullish About His Old Firm's Future
Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
