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Jax Daily Record Tuesday, Mar. 27, 201805:18 AM EST

11 Flagler Center buildings sold in $136 million deal

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San Francisco-based asset management firm is the new owner.
by: Andrew Warfield Staff Writer

For the second time in four years, Flagler Center in South Jacksonville is under new ownership.

In all, 11 commercial buildings at six addresses were purchased for $136 million by six partnerships under the umbrella of Farallon Capital Management LLC of San Francisco.

The buildings were sold by IVC Flagler LL LLC. The six purchasing entities borrowed $113.2 million for the acquisition. The lender is Parlex 2A Finco LLC of New York City.

The buildings are at 12854 Kenan Drive (one building, $8.5 million); 7159 Corklan Drive (one building, $15.8 million); 12808 Gran Bay Parkway W., (one building, $15.5 million); 12850 Gran Bay Parkway W., (three buildings, $48 million); 12735 Gran Bay Parkway W., (three buildings, $10.2 million); and 12740 Gran Bay Parkway W., (two buildings, $38 million). 

IVC Flagler LL LLC paid $133.2 million for the property in 2014.

According to its website, Farallon Capital Management LLC is a global institutional asset management firm founded in 1986. It has about 180 employees.

It manages equity capital for college endowments, charitable foundations, pension plans and individuals.

In addition to its San Francisco headquarters, it has offices in London, Singapore, Hong Kong, Tokyo, and Sao Paulo. 

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