Regions Southeast | Miami
Deka Immobilien Buys Florida Office Building for $83M
June 25, 2008

Deka Immobilien has acquired the BAC Colonnade office building in Coral Gables, Fla. for approximately $83 million. Deka Immobilien was advised by ING Clarion Partners L.L.C. The BAC Colonnade is a 207,000-square-foot, 11-story, class A building is located at the intersection of Ponce de Leon Boulevard and Miracle Mile.  The Mediterranean-style building is part of a complex that includes the 157-room Westin hotel. The property is 94 percent leased to 19 tenants, with long-term leases including the recently opened Morton’s Steakhouse Restaurant, Chevron Caribbean, BAC Florida Bank, SB Architects and HQ Global Workspaces.

 
Recent Miami Headlines
Miami Mixed-Use Project Resumes with Extension on $60M Loan
Aug. 15, 2008
ArteCity Holding Ltd., developer of the mixed-use ArteCity project in Miami Beach, can breathe a sigh of relief, now that Corus Bank has extended the maturity of its $60 million loan on the project.
Cousins Properties, The Related Group Complete Sale of Residential Units in Miami
Aug. 05, 2008
Cousins Properties Inc. has announced that it and partner The Related Group have closed on the sale of the remaining 120 residential units at 50 Biscayne, a 54-story, 528-unit luxury condominium tower in Miami, Fla.
JV Sells Residential Units at 50 Biscayne for $30M
Aug. 04, 2008
Cousins Properties Inc. and its partner The Related Group have closed on the sale of the remaining 120 residential units at 50 Biscayne, a 54-story, 528-unit luxury condominium tower in Miami, Fla.
AEW Takes Florida Tower from J.P. Morgan
Aug. 01, 2008
After four months of negotiations, Cushman & Wakefield in Florida has reported the finalization of the sale of an office tower in Coral Gables to the Boston-based institutional pension fund advisor, AEW Capital Management. Cushman & Wakefield represented the former owner of the property, J.P. Morgan Investment Management. The property is a Class A office building at 355 Alhambra Circle. No terms were made public. However, sources say it was a cash equity transaction of $87 million, making it $387 a square foot.
Miami Moves Forward with One Bayfront Plaza
July 28, 2008
Florida East Coast Realty is moving forward with plans for its $1.8 billion development, One Bayfront Plaza in Miami, Fla.