$10,000,000 Acquisition Loan Arranged for Industrial Building in Hollywood, FL
Kathy Anderson of Progress Capital secured a $10,000,000 credit facility for KD Properties, LLC to purchase the Hollywood Design Center, a 57,383 SF office/warehouse building located at 2850 Greene Street, Hollywood, FL.
Commercial acquisition financing was provided by TD Bank under the SBA 504 program and included 90% financing at a blended rate of 3.25% fixed for 10 years. The credit accommodation also included a business line of credit.
Hollywood Design Center is home to UHS Hardware, a leading national commercial and residential hardware supplier who occupies 51% of the property. Owned by Kobi Ben and Dan Berger, UHS moved to the Hollywood Design Center after outgrowing their old space nearby and decided to buy the building they occupy when it became available. The other half of the building is the international headquarters for Silver Airways. Silver Airway’s new space houses their training center, command center and executive offices.
“Kobi Ben and Dan Berger are amazing entrepreneurs and helping them realize their goal of owning the building where they operate UHS has been very rewarding”, said Anderson.
Hollywood Design Center features seven functional warehouse bays with 24’ clear heights, LED lighting, air conditioning throughout and ESFR sprinkler systems. Built in 1968, it has been completely renovated including a new roof under warranty, multiple HVAC unit replacements, a resealed and restriped parking lot, and cosmetic upgrades to the exterior façade.
Progress Capital is a leading NJ commercial mortgage broker with over $40 Billion in closed commercial loans and $150 Million of directly funded bridge loans. With over 30 years of experience, we continually prove our value to our clients by securing the best capital options available in the market.