Cushman & Wakefield Arranges $8 Million Sale On Behalf Of ARMOS Property Group
Cushman & Wakefield’s Mike Donaldson and Nick Meoli represented the seller in the transaction.
Cushman & Wakefield’s Mike Donaldson and Nick Meoli represented the seller in the transaction.
PPF Real Estate acquired the 10-building suburban office park for $315 million.
The 75,000-square-foot property Includes 50,000 square feet of office space, warehouse and dock-high loading.
Construction will commence in November 2021 and the property is expected to deliver in the fourth quarter of 2022.
The 3.82-acre site is located adjacent to the University of Central Florida.
The 38,537-square-foot portfolio was 88.2% leased with a weighted average lease term of over 5.5 years.
The shell buildings sold for approximately $127 per square foot.
Cushman & Wakefield’s Equity, Debt and Structured Finance team secured $102 million in acquisition financing through PIMCO on behalf of the buyers.
Mike Donaldson and Nick Meoli of Cushman & Wakefield represented the seller, ESO Equity Group, in the transaction.
Banyan Street Capital, a Miami-based private equity firm focused on acquiring and operating office properties, purchased the property in a joint venture with a fund managed by DRA Advisors.
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