Viewing articles tagged with:

Steelbridge Capital

03 Jan 2019

Hot office market brings top price for 500 Davis

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 […]

04 Oct 2018

Orlando High-Rise Receives $46M Refi

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 […]

10 Aug 2018

Steelbridge Capital Inks 15 KSF Orlando Lease

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 […]

27 Apr 2018

Steelbridge Capital parts with Clearwater office building

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 […]

08 Mar 2018

Ft. Lauderdale’s 501 at Las Olas Square 100 percent pre-leased to national tenants before CO

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 […]

21 Aug 2017

Residential tower proposed near Las Olas Boulevard, Federal Highway

Steelbridge Capital wants to build a residential tower along Federal Highway just north of Las Olas Boulevard in downtown Fort Lauderdale.

10 Aug 2016

SunTrust Bank Sells Namesake Office Complex For $90 Million

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.

03 Jul 2016

Office complex sells for $86.5M

Steelbridge Capital has acquired SunTrust Center, a 270,000-square-foot office complex in downtown Fort Lauderdale, for $86.5 million, property records show.

30 Jun 2016

SunTrust Complex Sells for $90 Million in Fort Lauderdale

Steelbridge Capital managing principal Michael Manno is banking on Fort Lauderdale’s real estate market catching up to Miami.

Bank sells downtown Class A office center for $90M

Steelbridge Capital acquired the 270,000-square-foot SunTrust Center office complex on Las Olas Boulevard, the most expensive address for Class A office space in Fort Lauderdale.

SunTrust Bank Sells Namesake Office Tower

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.

26 Oct 2015

Equity Office Sells Park Place for $22M

Steelbridge, Apollo JV Acquires 169,000 SF in Clearwater

Steelbridge Eyes Pinellas County Office Park

An affiliate of Steelbridge Capital has acquired Park Place Office & Promenade, one of the most well-known office parks in Pinellas County.

08 May 2015

Steelbridge Capital introduces the Offices at Pelican Bay, Class A office space now available in North Naples community of Pelican Bay

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 […]

09 Oct 2014

Pelican Bay Executive Center sold for $34M

NAPLES — Chicago-based Steelbridge Capital LLC purchased the Pelican Bay Executive Center in Naples for $33.65 million.

29 Sep 2014

Miami’s Steelbridge Buys Downtown Orlando Office Tower

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.

24 Sep 2014

Miami firm buys downtown Orlando’s Wells Fargo office tower

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.

22 Sep 2014

Steelbridge Makes Second Office Buy in a Week

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).

19 Sep 2014

Cypress center sold in hot office building market

The Cypress Financial Center in Fort Lauderdale has sold for $32.5 million, another indication of investor interest in South Florida office buildings.

17 Sep 2014

Cypress Creek Asset Trades

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 Makes $15 Million on Cypress Financial Center

Steelbridge buys Lauderdale building for $15 million less.

Fort Lauderdale office building sold for $33M, discounted from previous price

The Cypress Financial Center in Fort Lauderdale was acquired for $32.55 million, a significant discount from its previous purchase price eight years ago.

Steelbridge Buys The Same Building Twice

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.

13 Aug 2014

Steelbridge trio guides $17.5 million acquisition

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.

28 Jul 2014

SunTrust office tower in Pelican Bay sells in $17.5 million deal

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.

2014’S Largest Office Deal In Naples Closes

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.

27 Aug 2013

CBRE, Steelbridge Executives Arrange $64 Million Sale of Brickell Site

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.

03 Jan 2013

Aventura Tower Sold

Ten-Story building Concorde Centre II has been sold for an unspecified amount and is being renamed Aventura View.

02 Jan 2013

Steelbridge Capital, Apollo Global RE Acquires Concorde Centre II

Investor Sells 106,000-SF Office Tower

27 Dec 2012

Concorde Centre office building purchased in Aventura

A joint venture has acquired the Concorde Centre II office building in Aventura for an undisclosed amount.

Steelbridge Capital, Apollo Global JV Buys Miami Office Tower

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.

JV Snaps Up Rare Aventura Office Deal

MIAMI-Concorde Centre II, a 10-story, 106,500-square foot office building in Aventura, has traded.

26 Dec 2012

Steelbridge, Apollo score big office buy in Aventura

A Steelbridge Capital joint venture has purchased the 106,500-square-foot Concorde Centre II office building in Aventura.

Aventura Office Building Trades

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.

15 Jun 2010

Downtown Miami building sells for $31.52 million

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.

11 Jun 2010

Shops at Sunset Place in search of a new lender

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.

10 Jun 2010

Great divide separates would-be office tower buyers, sellers

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.

23 May 2010

Sleepy Biscayne Corridor office market struggles to find niche

The Biscayne Corridor, never a thriving office market, continues to struggle to find its niche.

06 May 2010

Second State Department lease gets Omni to 50% occupied

With a new 27,000 square-foot lease in hand, the Omni Offices is more than half full.

03 May 2010

Indoor ski slope envisioned on defunct Biscayne Landing site

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.

09 Apr 2010

Las Olas City Centre in mezzanine auction

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.

26 Mar 2010

Nonperforming notes sell for $124M at online commercial loan auction

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.

19 Mar 2010

LNR plans $1 billion CMBS offering

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.

15 Mar 2010

Office built for FAA sells for $24 million

A Miramar office building that houses a division of the Federal Aviation Administration has been sold for more than $24 million.

25 Feb 2010

Capital to return to commercial by year’s end

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.

23 Feb 2010

One Park Doral sits nearly empty

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.

11 Feb 2010

Miami may sell land to deal with budget crisis

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.

15 Jan 2010

CMBS loan defaults spike in the 4th quarter

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.

12 Jan 2010

Experts agree Herald land deal a long shot

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.

04 Jan 2010

HOPEFUL BUYERS WAIT WITH FISTFULS OF CASH

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.

18 Dec 2009

Flagler gets $460M CMBS mortgage

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.

14 Dec 2009

Spanish entrepreneur buys Coral Gables building

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.

30 Nov 2009

STEELBRIDGE PLANS HALF BILLION DOLLAR FUND

Steelbridge Capital is planning a $250-500 million opportunity separate account venture to target acquisitions in Florida.

24 Nov 2009

THE CHANGING LOAN LANDSCAPE

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.

26 Oct 2009

Smaller funds see opening as big players exit, prices drop

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.

03 Sep 2009

Lack of market “normalcy” makes valuation of space difficult

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.

26 Aug 2009

Private Investors Ready to Go

MIAMI-South Florida commercial real estate investors are tired of sitting around waiting for sellers and bankers to get in gear.

25 Aug 2009

Private investors ready to buy bargain properties

South Florida commercial real estate investors are tires of sitting around waiting for sellers and buyers to get in gear.

24 Aug 2009

Lender files action against Las Olas Centre

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.

23 Jul 2009

Positive signs spring up, but market not yet in recovery

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.

12 Apr 2007

New York buyer pays near record price for Courvoisier Centre

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.