Keystone Property Group, a commercial real estate investor and developer, just inked $21 million in financing for its Boca Raton office building.
IH Capital provided the funds, which were arranged by Craig Romer of Dockerty Romer & Co.
Keystone purchased the property in 2011 for $15.2 million and upgraded the building, Romer told The Real Deal.
Romer told TRD that the 10-year mortgage is setting up Keystone for long-term ownership of the building.
Located at 1200 Corporate Place, the building has 134,567 square feet and is 94-percent leased.
The company sold a similarly sized South Florida office building in June for $12 million. The 146,000-square-foot building, at 5875 Northwest 163rd Street in Miami Lakes, houses tenants like Dade Medical College and Intermedix.