A private company that specializes in buying and leasing space to government entities has just taken out a massive $161 mortgage on its South Florida portfolio.
A company affiliated with NGP, formerly known as National Government Properties, took out the funds from Cantor Commercial Real Estate Lending and Barclays Bank, according to a mortgage recorded in Broward County on Wednesday.
Three commercial properties in Broward were identified in the loan, all of which are leased out by government entities:
- 4451 Northwest 31st Avenue, Oakland Park: an immigration field office
- 2895 Southwest 145th Avenue, Miramar: an FAA Flight Standard District Offices location
- 15720 Pines Boulevard, Pembroke Pines: a property zoned for light manufacturing leased by the U.S. Government
NGP, based in McLean, Virginia, is one of the largest owners of government-leased properties in the country, according to published reports.
In the mortgage, a total of 41 affiliate companies were named with property holdings throughout more than a dozen states. That includes locations in Miami, Hialeah and Kendall. The total balance on the note was $660 million.