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.
Posted on November 1, 2014, in Downtown, Office, The Florida Times-Union, Transactions and tagged BankUnited, Drew Dixon, Fortress Investment Group, Gate, Karen Brune Mathis, Lingerfelt, office, Riverplace Tower, sale, southbank. Bookmark the permalink. Leave a comment.