HFF Announces $41M Financing for Coastal Tower in Fort Lauderdale
08/15/2018

CalSTRS sells Fort Lauderdale office building for $48M Tampa investment firm bought the 12-story Coastal Tower
08/06/2018

Holliday Fenoglio Fowler, L.P. (HFF) announces the $41 million financing of Coastal Tower, a 261,676-square-foot office tower in Fort Lauderdale, Florida.
The HFF team worked on behalf of the borrower, Cardinal Point Management, to secure the acquisition financing from New York Life Insurance Company. Loan proceeds were used to acquire the property and provide capital for an upcoming building renovation.
Cardinal Point Management owns over 1.2 million square feet of commercial real estate throughout Florida; however, this is their first acquisition in South Florida.

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Cardinal Point Soars Into South FL
​CalSTRS traded the Class A, LEED Silver office building for nearly $50 million. The buyer plans to renovate the asset, which was built in 1983. 08/16/2018 ​

California’s teachers’ retirement fund just sold the Coastal Tower in Fort Lauderdale for $47.5 million to Cardinal Point Management, a Tampa-based investment and property management firm.
The California State Teachers’ Retirement System sold the 571,300-square foot office building at 2400 East Commercial Boulevard to Halcar Coastal, which is tied to Cardinal Point, for about $80 per foot. The buyer financed the deal with a $41 million loan from New York Life Insurance, according to property records.

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HFF Arranges $41M Acquisition Loan For Office Building In Fort Lauderdale
​08/16/2018 ​

Cardinal Point Management has acquired Coastal Tower, a 261,676-square-foot Class A office property in Fort Lauderdale, Fla. The seller, CalSTRS, traded the asset for $47.5 million, according to Yardi Matrix.
HFF secured $41 million in acquisition financing for the buyer, which plans to utilize part of the loan proceeds to renovate the LEED Silver building. New York Life Insurance Co. holds the four-year mortgage. 

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​Colliers South Florida Appointed Exclusive Leasing Agent Of Landmark Fort Lauderdale Office Tower
09/09/2018

Investment and property management firm Cardinal Point Management, LLC has named Colliers International South Florida as the exclusive leasing agent for Coastal Tower, an iconic 261,676-square-foot Class A office building in Northeast Broward County, according to a release.
The office leasing team of Jonathan Kingsley, Jarred Goodstein and Ryan Goggins was selected by the Tampa Bay-based owner due to demonstrated success of the leasing team’s approximately 2.5 million square feet of Class A and B office agency assisgnments in Broward County, which are 90% leased.

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HFF has arranged a $41 million acquisition loan for Coastal Tower, a 261,676-square-foot office building located at 2400 E. Commercial Blvd. in Fort Lauderdale.
Chris Drew, Brian Gaswirth and Matthew McCormack of HFF arranged the four-year, floating-rate bridge loan through New York Life Insurance Co. on behalf of the borrower, Cardinal Point Management.

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