Dealmaker: Dockerty Romer & Co. Arranges $41M for Multifamily, Office Assets

Dockerty Romer & Co., Delray Beach, Fla., arranged a $36 million permanent mortgage for Circa Uptown, a Charlotte, N.C. multifamily community.

Circa Uptown is a newly constructed five-story, 243-unit Class A community, one of the newest additions to Uptown Charlotte’s Third Ward neighborhood close to Bank of America Stadium and BB&T Ballpark. The property offers studio, one-, two- and three-bedroom floorplans.

Dockerty Romer Principal Craig Romer and Director Chris Romer represented a joint venture between Woodfield Development, Winston-Salem, N.C. and a global real estate investment manager. PNC Bank, Pittsburgh, Pa., provided a five-year, floating-rate interest-only mortgage.

Chris Romer and company Principal Bob Dockerty also arranged $4.9 million for Hialeah Medical Center, a Hialeah, Fla. medical office building. The five-story Class B- property totals 69,000 square feet in Miami-Dade County.

Mercantile Bank, Grand Rapids, Mich., supplied the financing to Virtus Real Estate LLC, Austin, Texas.

The subject property, the only office building on Hialeah Hospital grounds, is currently 96 percent leased to more than 40 tenants, mostly hospital affiliates. Dockerty said the property maintains a strong competitive advantage as the only multiā€tenant medical office building within a three-mile radius.