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Press Release
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Contact: Nick Derasmo (212.841.7505) |
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SONNENBLICK-GOLDMAN COMPANY ARRANGES $45 MILLION FINANCING FOR FORT LAUDERDALE'S SOUTHTRUST TOWER |
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Thursday, October 07, 1999
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New York, NY
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The Gunwyn Company has retained Sonnenblick-Goldman Sonnenblick-Goldman Company, serving as the exclusive financial advisor to an investment company that is affiliated with the Jacksonville based Regency Group, has arranged a $45 million first mortgage for SouthTrust Tower located in Ft. Lauderdale, Florida.
Built in 1984, SouthTrust Tower consists of 19-stories and contains 336,735 square feet of net rentable area. The property is strategically located in Ft. Lauderdale's central business district and offers direct access to the adjacent Federal Courthouse, Ft. Lauderdale City Hall and the Broward County Government Center. As a result of its location and progressive architectural design, which features a distinctive green spandrel glass exterior accentuated by a dramatic 40 foot open air plaza atrium, SouthTrust Tower has attracted a strong, diversified tenant base. Tenants include some of the marquee names in the Ft. Lauderdale market, including SouthTrust Barnett that occupies 38,312 square feet; Holland & Knight, Florida's second largest law firm; Paine Webber Inc. and Cathay Pacific Airlines.
"This property commanded exceptional interest within the financing community as evidenced by the 18 loan proposals that were provided by insurance companies, pension funds, credit companies and Wall Street conduit lenders" stated Manuel de Zarraga, Managing Director of Sonnenblick-Goldman's Miami office. Hermen Rodriguez, Vice President of Sonnenblick-Goldman Company added"this transaction highlights the resurgence of the CBD office markets in Florida as highly desirable areas for investment and lending amongst major international capital sources." |
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Sonnenblick-Goldman, LLC is the industry’s leading independent real estate investment banking firm. Founded in 1893 to serve the financing needs of the real estate industry, Sonnenblick-Goldman, LLC provides a full range of financial services, including debt and equity placements, joint ventures, investment sales and advisory services. Headquartered in New York, Sonnenblick-Goldman maintains offices in San Francisco, Boston, Hong Kong, Shanghai, Sydney and Tokyo. Further information can be found at Sonnenblick-Goldman, LLC’s website at www.cushwake.com/sonngold.
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