EcoPlex® offers convenient access to downtown West Palm Beach’s amenity base including high-profile restaurants and business destinations including Rosemary Square and the Palm Beach County Convention Center.Īdditionally, the property’s location offers strategic access onto the region’s major transportation infrastructure, including Interstate 95 (less than 1 mile away), Palm Beach County International Airport (1 mile away), Tri-Rail, Brightline Florida Trains (2 miles away), and the Florida Turnpike (4.6 miles away). EcoPlex® rewards businesses with a healthier workplace, maximum energy efficiency, minimal environmental impact, significant cost savings, and increased productivity.ĮcoPlex® is located in the Centrepark Office District, a 69-acre mixed-use project strategically located just off Australian Avenue across from Drive Shack and directly adjacent to the Hampton Inn and Garden Inn hotels. The four-story property also features a fitness center with showers and lockers, a lush outdoor plaza, an attached five-story parking structure, and fiber optic service.
It is designed to withstand winds of a Category 4 hurricane and is equipped with three generators with integrated, above ground diesel fuel tanks, and rainwater recycling system.
EcoPlex® was the first speculative office building in West Palm Beach and only the second in South Florida to achieve the LEED® Gold Certification. Merin and Jordan Paul and Waterfall Asset Management (“Waterfall”), a New York based SEC-registered institutional asset manager with approximately $9.8 billion in assets including committed capital under management, has closed on the $32.5 million purchase of the fee simple interest in EcoPlex®, a 100,525-square-foot office building located at 1641 Worthington Road in West Palm Beach, Florida.īuilt in 2008, EcoPlex® is 87 percent leased to a diversified tenant roster with five or more years of weighted average lease term. Waterfall Asset Management’s headquarter offices are located in New York City.West Palm Beach, FL RELEASE PDF– A joint venture between affiliates of West Palm Beach based MHCommercial Real Estate Fund II (“MHCREF”), a discretionary real estate private equity fund formed by NAI/Merin Hunter Codman principals Dung Lam, Neil E. This multi-sector specialization in both ABS and loans enables Waterfall to seek to provide its clients with attractive, competitive returns that are generally uncorrelated to most traditional investment sectors. Leveraging the extensive experience of its founding partners and talented portfolio managers, the firm sources, analyzes, and purchases ABS and loan investments across multiple sectors globally in an effort to seek an attractive risk/return profile. Waterfall utilizes a relative value approach to investing in structured credit and loan products. Waterfall has approximately $7.6 billion* in assets under management (*estimated as of 12/1/18). Capasse and Ross started the ABS Group at Merrill Lynch in the 1980s and conducted the first ABS issuances for many of the more than 40 ABS sectors in which Waterfall invests. Waterfall was founded in 2005 by Tom Capasse and Jack Ross, two individuals who were early leaders of the ABS industry, and who together have over 60 years of proven ABS/Loan credit analysis, trading, banking and servicing experience. Waterfall Asset Management, LLC is an SEC-registered institutional asset manager focused on structured credit (asset-backed securities and loans) and private equity investments.
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