Dockerty Romer gets loan for Delray Industrial Park

DELRAY BEACH — Joe Hepp of Dockerty Romer & Co. has arranged refinancing for the Delray Industrial Park. Americo Life Inc. provided the loan.

Delray is a five-building industrial warehouse park built in 1981 and 1983. The buildings are single-story and total 140,120 square feet. Sitting on about 8 acres situated less than a mile east of Interstate 95. Americo life provided a $3 million non-recourse loan for a seven-year term at a competitive rate. 

Delray was about 97 percent leased at the time of closing, has a dynamic tenant mix.  The borrower, based in south Florida, owns and operates over 650,000 square feet of industrial commercial real estate throughout the South Florida market from Hialeah to Stuart. 

Joe Hepp, an associate of Dockerty Romer & Co. said, “Dockerty Romer & Company is pleased to have closed this transaction in a tough capital market.  The investor plans to hold this asset for the foreseeable future as it compliments their over all portfolio.”

Dockerty Romer & Co. is a full service commercial mortgage banking and real estate brokerage firm specializing in the capitalization of income producing properties.  Dockerty Romer & Co. has closed over $2.5 Billion of real estate transactions since its inception in January 2000.