Riverplace Tower’s buyer is closely related to the seller.
Close enough that they have the same office address — at Lingerfelt CommonWealth Partners in Glen Allen, Va.
Lingerfelt CommonWealth Partners announced Wednesday it sold the tower, but declined to identify the buyer.
The sale, recorded Thursday with the Duval County Clerk of Courts, shows LCP Riverplace LLC bought the tower Tuesday for $53.4 million.
LCP Riverplace is led by J. Ryan Lingerfelt, president and chief investment officer of Lingerfelt CommonWealth Partners.
It bought the 28-story Downtown riverfront tower from CFLC Replace LLC, which was led by New York-based Fortress Real Estate Opportunities Funds, managed by New York-based Fortress Investment Group.
CFLC Replace LLC was a partnership of the Fortress funds and Lingerfelt CommonWealth.
Lingerfelt CommonWealth had no further comment Thursday, restating it is unable to comment outside of its news release because of confidential provisions.
Fortress appears to have sold its ownership interest and Lingerfelt CommonWealth has taken full control.
J. Ryan Lingerfelt signed the mortgage documents recorded Thursday. Ameris Bank issued a $36.2 million mortgage agreement to LCP Riverplace on Tuesday.
That, too, was close to home.
Ameris Bank’s executive offices are based in Riverplace Tower and its name is on the top of two sides of the building at 1301 Riverplace Blvd.
In announcing the sale, Lingerfelt CommonWealth said it would continue to operate the property for the new owner and that its property management affiliate, Commonwealth Commercial Partners, will handle the day-to-day asset and property management.
Jones Lang LaSalle, also known as JLL, will continue to handle leasing and marketing.
CFLC Replace paid $29 million for the property in October 2014.
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