Doral Office Building Changes Hands For Nearly $325 PSF

doral-corporate-center2Hines VAF II Doral, a subsidiary of Houston-based real estate giant Hines, sold the 150,662-square-foot Doral Corporate Center office building to RREF III-P Doral Office, a subsidiary of Lennar Corp.,  for $48.75 million and a recently completed CVS pharmacy building at 8750 N.W. 36th Street for $7.5 million to RREF III P Doral Outparcel.
The buyers, both part of Miami-based Lennar subsidiary Rialto Capital Advisors, obtained a $40.2 million mortgage from JPMorgan Chase Banj.

The six-story Doral Corporate Center was built on the seven-acre site in 1985. The CVS pharmacy building on 2.8 acres was completed this year.

Hines still owns the office building at 3750 N.W. 87th Ave.
 
Source: SFBJ

 

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