Riverplace Tower Sold for $29M or $68/SF

Riverplace Tower, the iconic SouthBank skyscraper once anchored by Gulf Life, then SouthTrust and later Wachovia sold this week to Lingerfelt CommonWealth Partners out of Richmond VA for some $29M or about $68/SF.  The Florida Times-Union’s Drew Dixon covers the story.

Further details, from Karen Brune Mathis of the JAX Daily Record:  Lingerfelt’s equity partner in the deal was Fortress Investment Group out of NYC and a $24.2M loan (83%) was provided by BankUnited of Miami Lakes.  The building was about 75% occupied.

About scottrogersjax

30 years' in commercial real estate investment sales, banking, mortgage banking, and valuation. Trained and schooled in Atlanta, and now heading the Investment Sales Team in the Colliers Jacksonville office.

Posted on November 1, 2014, in Downtown, Office, The Florida Times-Union, Transactions and tagged , , , , , , , , , . Bookmark the permalink. Leave a comment.

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