Family firm buys mixed-use center near Boca Raton for $40M as CRE deals chill
A family firm bought a 15-acre retail and office complex near Boca Raton for $40 million, amid softer South Florida commercial real estate deal activity. Interface Properties, a Boca Raton-based firm led by Zac and Ken Goodman, purchased the 189,500-square-foot Fountains Center at Powerline Road and West Camino Real, using a $31.8 million acquisition loan from City National Bank, according to news releases from the buyer and debt broker. The financing has a fixed interest rate and a five-year term. The seller is an entity led by James Caprio of Weston-based Titan General Partners, records show. The $40 million purchase […]This article originally appeared on The Real Deal. Click here to read the full story.
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