One of downtown’s biggest towers — featuring noted law firm Orlando-based Morgan & Morgan PA as its anchor tenant — is nearing a sale to a Miami company, despite the challenges the office real estate sector has faced during the Covid-19 pandemic.
Property includes 17-story office tower, three-story office-retail building
Seller bought building for $33M in 2014 Vision Properties’ Fred Arena and Steelbridge’s Gavin Campbell with 5900 North Andrews Avenue. The Fort Lauderdale home of Marcus & Millichap has a new landlord after a failed purchase last year. An affiliate of Tampa-based Vision Properties paid $44.2 million for the offices at 5900 North Andrews Avenue, […]
Steelbridge previously sold it in 2006 and re-purchased in 2014 from the same firm it sold it to. An Illinois-based boutique private equity firm has now disposed of Fort Lauderdale office tower Cypress Financial Center twice — this time for $44.24 million. Steelbridge, through affiliate Steelbridge CFC LLC, sold the 11-story building and adjacent garage to CFC Offices […]
Another deal shows it’s a good time to be an office landlord in the lakefront suburb. It’s a good time to be an office landlord in Evanston. Capitalizing on one of the tightest office submarkets in the area, a venture of Chicago-based Steelbridge Capital last week sold the 10-story building at 500 Davis St. […]
The Related Group obtained a property near Las Olas Boulevard in Fort Lauderdale for $12 million to develop an apartment tower. The joint venture between Steelbridge Capital and Apollo Global Real Estate Management sold the 0.6-acre site at 201 S.E. 6th Ave. to Miami-based Related Group. The land was part of the SunTrust Centre office […]
The Related Group closed on a development site in downtown Fort Lauderdale where it plans to build a rental tower similar to Icon Las Olas. A joint venture between Steelbridge Capital and Apollo Global Real Estate Management sold the nearly 30,000-square-foot assemblage at 201 Southeast Sixth Avenue to Miami-based Related for $12 million. Related, Miami’s […]
EVANSTON, IL–As 2018 drew to a close, Steelbridge Capital sold 500 Davis St. for $32.4 million to a join venture composed of investor Randy Rissman and CBRE’s Bob Wislow. In less than 3 years, Steelbridge was able to nearly double its $18 million purchase price for the 10-story office building. Market experts say this deal, […]
Evanston Now January 3, 2019 By Bill Smith The 500 Davis building (Google Maps) The 500 Davis office building in downtown Evanston has sold for $32.35 million — 80 percent more than it was purchased for two-and-a-half years ago. Cook County property records list the buyer as a joint venture of Northbrook-based investor Randy Rissman and […]
A CBRE team arranged the floating rate loan on behalf of a joint venture between Apollo Global Management and Steelbridge Capital. The financing replaces a 2014 mortgage. Commercial Property Executive Oct. 04, 2018 by Timea-Erika Papp CBRE Capital Markets has arranged a $46 million loan to refinance 20 North Orange, a Class A office tower […]
Radixx Solutions International will relocate its headquarters in the newly renovated office tower at 20 North Orange, bunking up with CenterState Bank and Pipeline Workspaces. Aug. 10, 2018 Commercial Property Executive by Alex Ciorogar Steelbridge Capital LLC has signed a new 15,129-square-foot lease at 20 North Orange—a newly renovated office building located at the corner […]
Steelbridge Capital parts with Clearwater office building Company had acquired Park Place properties in 2015 Business Observer Friday, Apr. 27, 2018 by: Kevin McQuaid Commercial Real Estate Editor Miami-based Steelbridge Capital LLC has sold the last of a four-building office complex it owned in Clearwater for $19.8 million, according to Pinellas County property records. The […]
Steelbridge Capital saw an opportunity in SunTrust Center and acquired the institutional quality two-building Class A office complex spanning 270,000 square feet at 501 and 515 East Las Olas Boulevard in Ft. Lauderdale, Fla. in June 2016. Less than two years later, the comprehensive multimillion-dollar rebranding and renovations implemented by Steelbridge have already yielded an […]
Steelbridge Capital wants to build a residential tower along Federal Highway just north of Las Olas Boulevard in downtown Fort Lauderdale.
FORT LAUDERDALE, FLA. – Sun-Trust Bank has sold SunTrust Center, a two-building, 270,000-square-foot office complex located at 501 and 515 E. Las Olas Blvd. in Fort Lauderdale.
Steelbridge Capital has acquired SunTrust Center, a 270,000-square-foot office complex in downtown Fort Lauderdale, for $86.5 million, property records show.
Located at the crossroads of the Central Business District and the mile-long stretch of commerce along Las Olas Boulevard, SunTrust Center is a rare asset to come to market.
Steelbridge Capital managing principal Michael Manno is banking on Fort Lauderdale’s real estate market catching up to Miami.
Steelbridge Capital, a value focused real estate investor, completed the acquisition of SunTrust Center, an institutional quality two-building Class A office complex spanning 270,000 square feet at 501 and 515 East Las Olas Boulevard in Ft. Lauderdale, for $90 million.
The 10-story office building at 500 Davis St. in Evanston has sold for $18 million — about 21 percent above its last sale price a little over two years ago.
A Chicago real estate investment firm paid $18 million for a 10-story office building in Evanston, betting that a dearth of space in the northern suburb will continue pushing up rents.
Cypress Financial Center in Fort Lauderdale scores $33M loan An affiliate of Apollo Global Management and Steelbridge Capital owns the 11-story building The Real Deal February 23, 2016 01:30PM By: Katherine Kallergis Cypress Financial Center The owner of the Cypress Financial Center in Fort Lauderdale has closed on a $33.3 million floating-rate loan for the […]
Steelbridge divests an Aventura office building for nearly twice its original purchase price after a three-year hold.
The Aventura View office building sold for $38 million, an 85 percent gain over its price from three years ago.
Aventura View, a 10-story, 107,304-square foot class A office building in Aventura FL.
The $22 million acquisition of the Park Place Office & Promenade in Clearwater last month may kick off a renewed wave of regional buying by institutional investor Steelbridge Capital, its founding partner says.
An affiliate of Steelbridge Capital has acquired Park Place Office & Promenade, one of the most well-known office parks in Pinellas County.
Park Place in Clearwater is 96 percent occupied
Steelbridge Capital, which exited the Tampa market at the peak of the last real estate cycle, is back in the Bay region.
NAPLES, Fla. (May 8, 2015) – Steelbridge Capital proudly introduces The Offices at Pelican Bay, formerly Pelican Bay Executive Center, at 5801-5811 Pelican Bay Blvd. in the heart of the Pelican Bay community in Naples, Florida. Prominently located at the main entrance to Pelican Bay off of U.S. 41, and next to the ultra-luxury Waterside […]
NAPLES, FLA – Steelbridge Capital has acquired Pelican Bay Executive Center, a three-building, 190,000-square-foot office complex in Naples.
NAPLES — Chicago-based Steelbridge Capital LLC purchased the Pelican Bay Executive Center in Naples for $33.65 million.
NAPLES, FL—Steelbridge Capital is on an office acquisition roll. The real estate investor just bragged it second Naples property—and its third acquisition in a month.
Fresh on the heels of its $32.55 million acquisition of Fort Lauderdale’s Cypress Financial Center, Steelbridge Capital LLC added a downtown Orlando office tower to its portfolio.
There’s a lot of action happening in downtown Orlando – and at least one out-of-town real estate investment firm jumped at the chance to be a part of it.
ORLANDO-In its second acquisition in less than a week, Steelbridge Capital has acquired 20 North Avenue, a 16-story, 267,262-square-foot class B office building in the heart of Orlando’s Central Business District (CBD).
The Cypress Financial Center in Fort Lauderdale has sold for $32.5 million, another indication of investor interest in South Florida office buildings.
Steelbridge Capital, a Miami and Chicago based value focused real estate investor, completed the acquisition of Cypress Financial Center, an 11-story, 198,528 square foot Class A office building prominently situated on I-95 at Cypress Creek Road in Ft. Lauderdale.
Steelbridge buys Lauderdale building for $15 million less.
The Cypress Financial Center in Fort Lauderdale was acquired for $32.55 million, a significant discount from its previous purchase price eight years ago.
FORT LAUDERDALE, FL—Steelbridge managing principal Gavin Campbell tells GlobeSt.com’s Jennifer LeClaire why his firm bought this iconic office building a second time.
Dealmakers: Jay Caplin, Michael Manno and Gavin Campbell. The Deal: Miami-based Caplin and Manno worked with Campbell, a Chicago counterpart, on Steelbridge Capital’s $17.5 million acquisition of a 68,000-square-foot office building in Naples-the biggest deal so far this year in the Southwest Florida city.
A long-held office tower in Pelican Bay has changed hands, marking one of the largest commercial sales of its kind in Naples this year.
NAPLES, FL—It’s the largest office purchase in Naples, FL this year. The SunTrust Building in Naples just traded hands in an off-market deal for $17.3 million.
The Deal: The CBRE Inc. and Steelbridge Capital LLC executives arranged the $64 million sale of the two-property 700 and 710 Brickell Ave. site on July 15.
Swire Properties Inc, one of South Florida’s leading international developers of real estate, today announced the acquisition of 700 Brickell Avenue, a property long occupied by the Florida headquarters of Northern Trust Bank.
Ten-Story building Concorde Centre II has been sold for an unspecified amount and is being renamed Aventura View.
Investor Sells 106,000-SF Office Tower
A joint venture has acquired the Concorde Centre II office building in Aventura for an undisclosed amount.
In a JV, Steelbridge Capital and a real estate investment fund managed and advised by affiliates of Apollo Global Real Estate Management have acquired Concorde Centre II, the largest office purchase in Aventura, Fla. this year.
MIAMI-Concorde Centre II, a 10-story, 106,500-square foot office building in Aventura, has traded.
Steelbridge Capital, a value focused real estate investor based in Miami, and a real estate investment fund managed and advised by affiliates of Apollo Global Real Estate Management, L.P., today announced the joint venture, off-market acquisition of Concorde Centre II, a ten-story, 106,500 square foot office building in Aventura.
In South Florida’s most expensive office sale of 2010, a downtown Miami building that houses the Adrienne Arsht Center for the Performing Arts Foundation and trust has been sold for $31.52 million.
Shops at Sunset Place in South Miami appears to have everything going for it: It’s 90 percent leased, it easily covers the debt service on its $76.6 million mortgage and its last appraisal valued it significantly above its loan.
Weak fundamentals and a gap between buyer and seller expectations are among the factors that are likely to keep Miami’s office towers off the market for the foreseeable future.
The Biscayne Corridor, never a thriving office market, continues to struggle to find its niche.
Indiana developer Mark Siffin’s plan to move ahead with the $230 million purchase of 10 acres near the Miami Herald headquarters sounds like a project from 2006-when downtown Miami land sold at top dollar and banks handed out loans like promotional pens.
With a new 27,000 square-foot lease in hand, the Omni Offices is more than half full.
North Miami’s defunct Biscayne Landing commercial project could be reborn soon as a winter-themed recreation center inside a manmade mountain and a tennis facility.
Wells Fargo Bank is auctioning off the mezzanine loan of the entity that owns the Landmark Las Olas Centre office complex in downtown Fort Lauderdale.
More special services will bring loans to auction after Jones Lang LaSalle and Real Estate Disposition Corp. recently sold 35 small-balance commercial loans that way.
LNR Property Corp. plans to offer $1 billion in small-balance commercial mortgage-based securities (CMBS) loans, and Miami-based commercial investment house Steelbridge Capital is among the interested buyers.
A Miramar office building that houses a division of the Federal Aviation Administration has been sold for more than $24 million.
The notion of costly deleveraging and growing numbers of distressed properties make for a grim outlook for access to capital for South Florida commercial deals in 2010.
The bleak outlook for Miami’s commercial real estate market is not confined to the downtown core. Even in the formerly robust Airport West submarket, marquee projects like One Park Doral are flagging.
Facing a $45 million budget shortfall, the city of Miami is considering selling off real estate in a market that heavily favors bargain-hunting buyers.
Defaults of South Florida properties covered by commercial mortgage-backed securities (CMBS) accelerated in the fourth quarter as aggressive loans made during the boom years went sour.
A developer and a media giant are caught in a waiting game. Who’ll be declared a winner-if there is to be one-will depend on how quickly the real estate market rebounds.
DeVry University and Royal Caribbean Cruises have a new landlord after a New Jersey investor paid $43 million for two buildings in Miramar.
Casting aside an unexpected wave of initial public offerings and new real estate funds, watch pension fund advisors U.S. Realty Advisors, Urdang & Associates Real Estate Advisors, United Trust Fund and Sentinel Real Estate Corp. to jump into acquisitions mode.
If real estate watchers think Flagler’s recent $460 million deal signals an immediate resurrection of the commercial mortgage-backed securities (CMBS) market, they will likely be disappointed, experts say.
Shortly after Bacardi U.S.A. moved its headquarters into a Coral Gables office tower, one of the world’s richest men picked up the building for more than $120 million.
Steelbridge Capital is planning a $250-500 million opportunity separate account venture to target acquisitions in Florida.
Did you ever play kick the can when you were a kid? If you didn’t, don’t worry; real estate bankers and commercial real estate owners have a chance to play it again.
When Gustaf Arnoldsson began courting potential investors to form a real estate investment fund , he felt like a high school student worried about arriving late to the dance.
With very few sales of any class commercial real estate consummated this year, brokers say it’s tough to get a fix on current values.
MIAMI-South Florida commercial real estate investors are tired of sitting around waiting for sellers and bankers to get in gear.
South Florida commercial real estate investors are tires of sitting around waiting for sellers and buyers to get in gear.
The commercial lending crisis has caught up with Las Olas Centre, one of downtown Fort Lauderdale’s marquis office properties-which set a record at the height of the real estate boom as the priciest in South Florida.
Office brokers experienced in the South Florida scene say there are some signs the market is nearing the bottom, but that should not be confused with recovery.
The commercial real estate market in South Florida, already stung by a slew of economic factors that first battered the residential market, faces a long road to recovery.
Institutions that own commercial real estate prefer to outsource property management, local brokers say, and are expecting companies in trimming expenses.
Investors remain on the sidelines waiting for the gap between bids and asking prices on commercial properties to narrow.
MAITLAND–The for-sale sign is up at the Maitland Colonnades but local real estate experts don’t expect it to stay up for long.
MIAMI-A joint venture of locally based Steelbridge Capital LLC and Wilton, CT-based Commonfund Realty Inc. has acquired the 80,000-sf Office in the Grove at 2699 South Bayshore Dr.
New York-based Tishman Speyer bought the Courvoisier Centre office complex on Miami’s Brickell Key for about $130 million in its first Florida investment, sources said on condition of anonymity.
SOUTHSIDE– Florida Office Property Co. has invested in office space in major cities all over the state, but Jacksonville is no longer one of them.
While the residential real estate market suffered in 2006, commercial property surged in comparison.
With the sale of Doral Corporate Center, Florida Office Property Co. has nearly finished divesting its South Florida properties.
The only office complex on Miami’s Brickell Key has been put up for sale for the first time.
Almost nine years ago, Gavin Campbell gambled big on a potentially risky deal.