CRE Powerhouses Join Forces To Buy Iconic Coral Gables Office Building
The JV partners expect to see strong demand for office space in Coral Gables in the coming months and years, as leases in more expensive office submarkets begin to expire.
The JV partners expect to see strong demand for office space in Coral Gables in the coming months and years, as leases in more expensive office submarkets begin to expire.
Seasoned real estate veteran Scott Sherman has officially launched Torose Equities, a Miami-based real estate investment firm with a value-add urban retail, office and mixed-use strategy targeting the Southeastern United States.
Tricera and Merrimac closed the acquisition of the ±16,500 square feet of retail and restaurant space in August 2020
Tricera acquired the buildings for $13.25 million in January 2019.
Developed by RedSky Capital, LLC, the property is an 8-story building with approximately 100,000 square feet of office and retail with a verdant rooftop terrace.
Tricera Capital obtained $50.75 million in financing for the adaptive re-use project.
Tricera expects to deliver the Joseph’s space in mid-2022.
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