North Palm Beach retail center grabs $3 Million loan

NORTH PALM BEACH - Coconut Cay Shoppes, a retail strip center at 12100 US Highway 1, has recently obtained $3,000,000 in financing. Joseph A. Hepp of Dockerty Romer & Co. has arranged for the loan through a regional bank. Loan terms were a 6.25% interest rate, three-year term and a 25-year amortization schedule.
The property is a three-building unanchored strip center which houses the Siam Square‎ Thai Restaurant, in North Palm Beach. The complex is approximately 27,900 square feet. The location is half mile north of the busy signalized intersection of PGA Boulevard & US 1.
Currently the property is more than 90% leased.
Dockerty Romer & Co. is a boutique Real Estate Investment Banking firm that provides creative and responsive financial solutions for capitalizing commercial real estate.
Doval Investments LLC was the borrower. Doval Investments LLC has a portfolio of retail and multifamily properties throughout Florida and into our northern neighbor, Canada.

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