Dealmaker: Dockerty Romer & Co. Secures $45M

Dockerty Romer & Co., Delray Beach, Fla., arranged $45.3 million for Florida industrial and retail properties.

In Miami Gardens, Fla., the firm secured $12.3 million for flex office/industrial center Park Centre. Built in 1987, Park Centre includes 131,500 rentable square feet along the Palmetto Expressway. It is currently 90 percent leased to national and local tenants including California Closets, Miami Regional Dialysis and Chen Medical.

Dockerty Romer Principals Nancy Dockerty and Bob Dockerty represented client Concorde Group Holdings LLC, Boca Raton, Fla. Narrative Capital, Los Angeles, provided a short-term bridge loan that will allow Concorde Group to lease up the center.

“[Narrative Capital] was able to close the loan within 25 days, which was important to the borrower,” Nancy Dockerty said.

Nancy and Bob Dockerty also arranged $33 million for Concorde Group Holdings LLC to purchase retail center Dellagio Town Center in April.

The subject property, a 109,900-square-foot lifestyle center along Sand Lake Road’s “Restaurant Row,” delivered in 2009. The 96 percent leased asset is adjacent to Residences at Dellagio, an 83-unit residential condominium community developed by Park Square Homes.

Citi Global Markets, New York, provided a $28 million senior mortgage and Morrison Street Capital, Portland, Ore., provided a $5 million mezzanine loan.