Lone Star Funds announced that an affiliate of Lone Star Real Estate Fund VII, L.P., along with an affiliate of Highline Real Estate Capital LLC and Square2 Capital LLC, acquired the asset, marking the most significant office acquisition in Broward County in the past decade.
The transaction was facilitated by CBRE’s Senior Vice President Amy Julian and First Vice President Andrew Chilgren.
The four-story, 93,219-square-foot boutique office building traded for $20 million.
Currently, the property is 92% leased to a diverse roster of 48 tenants.
Christian Lee, Andrew Chilgren, Marcos Minaya and Sean Kelly of CBRE brokered the transaction on behalf of both the buyer and seller.
The seller, a joint venture, purchased the property and excess development land in 2016 for $90 million and executed an extensive redevelopment and re-tenanting of this iconic Ft. Lauderdale asset. CLICK ON THE HEADLINE FOR MORE
CBRE Capital Markets Vice Chairman Christian Lee and Executive Vice President José Lobón facilitated the sale on behalf of Crocker Partners. CLICK ON THE HEADLINE FOR MORE
The CBRE Capital Markets team facilitated the sale of the 19-story, 351,705 square foot, institutional-quality office building. CLICK ON THE HEADLINE FOR MORE
