Dania Beach, Hollywood commercial properties get $122M loan
Affiliates of KTR Capital Partners received a $122 million mortgage for its Dania Beach and Hollywood portfolio of commercial space, according to Broward County records.
Morgan Stanley Bank, General Electric Capital Bank and General Electric Capital Corp. are the lenders in the multi-state mortgage, which was granted on Dec. 23, 2014. KTR CFO J. Peter Lloyd signed the mortgage, records show.
The loan applies to the following properties in KTR’s portfolio: 1901 to 1991 Tigertail Boulevard, 5555 Anglers Avenue, 3601 North 29th Avenue, 3850 North 29th Terrace, 5553 Ravenswood Road, 3700 North 29th Avenue and 3401 North 29th Avenue.
When asked, KTR declined to comment on the purpose of the loan.
The properties were purchased for $49.8 million in June 2012. According to KTR Capital’s website, the 2012 transaction totaled 520,722 square feet along Interstate-95. They include a mix of small bay industrial units and showroom buildings. A KTR affiliate recently sold a 28.1-acre property in Deerfield Beach for $51 million.
More than 40 acres of nearby land were sold to Dania Live for $29 million in December 2014. Those developers plan to build an open-air shopping center with big box stores, restaurants, a hotel and apartments.