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Florida Partnership Buys Ft. Lauderdale Tower for $43M
A partnership of Boca Raton-based Pebb Capital, Fort Lauderdale-based Intalex Capital, and Delray Beach-based CDS International Holdings has purchased a 24-story office tower in downtown Ft. Lauderdale. Coral Gables-based Amerant Bank financed the $43 million deal.
Stockbridge 110 East Broward LLC, an affiliate of Stockbridge Capital, sold the 343,500-square-foot office at 110 E. Broward Blvd. It acquired the building out of foreclosure in 2018 for $41.06 million. The prior owner completed multimillion-dollar renovations to the common areas and lobby in 2021. The tower, located on 1.6 acres, was built in 1982.
CBRE’s Christian Lee, Andrew Chilgren, Marcos Minaya and Sean Kelly brokered the deal. CDS also worked with Greenwall Capital Management and law firm Kapp Morrison.
Travis Herring and Katherine Ridgway of Cushman & Wakefield will lease the building, which is just over 50-percent occupied. They have secured about 76,000 square feet of new tenants.
- ◦Sale/Acquisition