Coral Gables office buildings sell for $98M as noncore markets attract investors
Three investors acquire Coral Gables office complex for $97.8 million as market remains active.
A trio of investors dropped $97.8 million for The Ponce office complex in Coral Gables in one of the city’s largest sales so far this year. Intalex Capital, Itero Investments and Greenwall Capital acquired a 365,000-square-foot office portfolio with the 12-story Class A building 2525 Ponce de Leon Boulevard, six-story Class B building 2555 Ponce de Leon and parking garage at 152 Valencia Avenue, the buyers told The Real Deal. ACORE Capital provided a $105 million loan covering the acquisition and $30 million in future upgrades. Property records show Newark, New Jersey-based Prudential Global Investment Management was the seller after […] This article originally appeared on The Real Deal. Click here to read the full story.
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