West Palm Beach, Fla. – MHCommercial Real Estate Fund, a real estate fund recently launched by principals of leading South Florida Commercial Real Estate firm NAI/Merin Hunter Codman, has announced that its affiliate has acquired 2601 Oakland Park Boulevard, a 60,000 square foot office building located at 2601 East Oakland Park Boulevard in Fort Lauderdale, Florida.
The property was purchased for $11,750,000 or $196 per square foot. KeyBank provided financing for MHCommercial Real Estate Fund and attorney Stuart Kapp of Kapp Morrison represented MHCommercial Real Estate Fund in the transaction.
Dung Lam, Principal of MHCommercial Real Estate Fund stated “We are very pleased that the first purchase of the Fund is a first-class office building with an outstanding location in the dynamic Fort Lauderdale market. Additionally, 2601 Oakland Park has recently been completely renovated offering its tenants one of the area’s highest quality professional office environments. This premier property is located in the high-end Coral Ridge neighborhood, just minutes from all of the exciting development in downtown Fort Lauderdale. This acquisition provides our investors with strong immediate cash flow and a significant opportunity for value creation as Fort Lauderdale establishes itself as a 24/7 gateway city with a vibrant live/work/play environment.”
NAI/Merin Hunter Codman has been retained to manage and lease the property. To learn more about leasing opportunities please contact Maxwell Pawk at 561-471-8000.
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