OfficeAnnouncedrefinancing

Esperanté Corporate Center

Downtown West Palm Beach, FL·Feb 26, 2026, 6:00 PM

Deal Size

$145.0M

Cap Rate

Est. 9.00%

$/SF

$566

Size

256K SF

Occupancy

—

Market Signal

Refinancing existing debt structure for the asset.

Buyer Strategy

The JV led by Related Ross is maintaining control and extending the debt maturity on an existing asset.

Seller Motivation

The existing ownership group is securing new financing, suggesting they are not looking to sell the asset at this time.

Market Signal

Securing $145M in financing for an older office asset in West Palm Beach suggests continued lender confidence in the market's underlying value despite asset age.

Financing

Loan

$145.0M

Lender

Hudson Bay Capital Management

Parties

BuyerJoint venture led by Stephen Ross’s Related Ross →

Sponsor

Related Ross

JV Partner

JZ Capital Partners and Greenmont Group

Location Analysis

Primary Market

Article does not provide specific demographic trends for West Palm Beach.

Rent Growth

Rent trajectory for this market and property type based on current fundamentals. 1 sentence.

Risk Factors

The property is an older asset (1989 vintage), which may require significant capital expenditure to remain competitive in the West Palm Beach office market.

Medium

Refinancing provides capital flexibility, potentially allowing for necessary capital improvements.

Executive Signals

“We designed Magnus Brickell as a replicable model for other high-cost cities facing the same housing crisis. It shows that deeply affordable housing and world-class living don’t have to be mutually ex...”

Alberto Milo Jr.·Related Urban·bullish

“This is not proven. I may not be successful.”

Stephen Ross·Related Companies·bullish

“In just six months, we have driven over $150 million in sales for this project.”

Nick Pérez·Related Group·bullish

Market Comparables

Unnamed

Doral · Office · acquisition

$63.0M9.00% cap

Boca Corporate Plaza

Boca Raton · Office · refinancing

$35.0M9.00% cap