The Real Deal Miami

KBS borrows $28M for Weston Corporate Center

149,103-square-foot office park will be renovated
By Katherine Kallergis | October 08, 2015 10:30AM

Weston Corporate Center

Weston Corporate Center

About a month after acquiring the Weston Corporate Center, KBS Realty Advisors has closed on a $28 million mortgage for the property, Broward County records show. 

In August, KBS paid $46.74 million for the fully leased, 149,103-square-foot office park at 2500 Weston Road and 2700 South Commerce Parkway. BlackRock Realty Advisors was the seller.

At the time, the private equity real estate company said it would renovate the property to include roof replacement, full lobby and bathroom renovations, new common area ceiling grids and lighting, repainting the building and updating the parking lots. The properties, which surround a lake, were developed between 1997 and 1998.

JPMorgan Chase is the lender, records show. KBS co-founder and CEO Charles J. Schreiber Jr. signed the loan.