The Real Deal Miami

Miami’s One Turnberry Place secures $35M in acquisition financing

June 27, 2011 02:58PM

Class A office building One Turnberry Place has secured $35 million in acquisition financing, according to GlobeSt.com. The 136,400-square-foot building, at 19501 Biscayne Boulevard, is located at the entrance of the Aventura Mall.

The buyer, OTP Capital, is an affiliate of the Aventura-based Triarch Investment Group, led by Danny Halberstein, Jorge Linkewer, and Mario Grosfeld. Triarch also owns Aventura Town Plaza, a nearby two-story office and retail building.

Aztec Group Senior Managing Director Howard Taft and director Charles Penan secured the loan, GlobeSt.com said. Credit Suisse/Column Financial provided the 10-year non-resource loan on 66 percent loan-to-cost terms with a fixed interest rate. [GlobeSt.com]