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SUNTRUST BUILDING

Naples, Florida

In 2014, Steelbridge purchased this 11-story office asset in an off-market acquisition for $250 PSF in the Pelican Bay submarket of Naples, Florida. Taking advantage of a strengthening office market, Steelbridge invested in select capital improvements and an aggressive leasing campaign that took the asset from 78% to 92% leased in 12 months. The property was sold in early 2016 to a life insurance company for $344 PSF and 30% returns.

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