The Real Deal Miami

Biscayne Atlantic scores $31M bridge loan for Jupiter office building

The tech park was built in 1990 and sits on nearly 16 acres
August 04, 2017 12:00PM

1701 Military Trail Inset: Charles Foschini and Christopher Apone

Hollywood-based Biscayne Atlantic just scored a $31 million bridge loan for its Jupiter Medical and Technology Park, according to a press release.

Records show Biscayne Atlantic bought the 186,000-square-foot office complex at 1701 Military Trail in Jupiter through its entity PointOne Holdings for $30.7 million in 2014.

Berkadia, a joint venture of Berkshire Hathaway and Leucadia National Corp., secured the loan from Silverpeak Argentic. Berkadia’s Charles Foschini and Christopher Apone arranged the three-year, floating rate bridge loan on behalf of the borrower, according to the release.

The office space, built in 1990, sits on nearly 16 acres, records show. The property is anchored by GE Medical Systems, a medical equipment distributor under GE. Other major tenants include Florida Turbine Technologies and Jupiter Medical Center. The property is fully leased, according to LoopNet. – Amanda Rabines