Arrow Real Estate Advisors arranges $52 million financing for acquisition of Lakeside & Flagler Center Business Park

Jacksonville, FL Arrow Real Estate Advisors, a leading real estate finance advisory firm, has arranged $52 million in acquisition financing on behalf of Savlan Capital for the purchase of the Lakeside & Flagler Center Business Park, a Class A, seven-building office and flex warehouse portfolio totaling 765,190 s/f. Obra Real Estate provided the financing. The financing was arranged by Arrow’s Morris Betesh, founder and managing partner, Alex Bailkin, senior vice president, Matt O’Hanlon, senior associate, and Andrew Rosenberg, analyst. 

“We are seeing tremendous opportunities in the office sector for opportunistic Sponsors that are purchasing assets at a reset basis.” said Betesh “This was a rare opportunity for the sponsor to acquire a newer vintage portfolio of class A office and flex properties at a significant discount to replacement cost. Arrow was able to source accretive, flexible financing in an expedited 30 day timeframe, allowing Sponsorship to quickly secure the asset while at the same time providing significant leasing capital in support of ownership’s aggressive repositioning strategy.” 

Located at 12735 Gran Bay Parkway West in the Jacksonville market, the business park is comprised of four flex office properties, Flagler 100, Flagler 200, Flagler 300, and Flagler 400, totaling approximately 400,000 s/f, and three traditional office properties, Lakeside I, Lakeside II, and Lakeside V, totaling approximately 365,000 s/f. The property, acquired from a financial institution at an attractive basis, is nearly 60% occupied, and features a diverse mix of high-profile tenants including HTS Logistics’ corporate headquarters, Ernst & Young, Kimley-Horn, United Healthcare Service, Siemens Mobility, and more. 

Savlan Capital plans to capitalize on the portfolio’s strong fundamentals, allocating significant reserves for tenant improvement packages and upgrades, with a focus on executing creative, tenant-driven leases to bring occupancy to market-leading levels. 

The Lakeside & Flagler Center Business Park is strategically positioned to benefit from Jacksonville’s robust economic growth and rising demand for high-quality office and flex space.