Pennsylvania-based real estate investment firm acquires two-building office portfolio.
A Pennsylvania-based real estate investment firm paid $51.46 million Wednesday for Capital Plaza at 10401 Deerwood Park Blvd.
Somerset Properties Inc., through SPI TCM Capital Plaza LLC, bought the three-building office portfolio from 10301 Jacksonville Office LLC, associated with SPT Parmenter Jacksonville JV LLC of Miami Beach. It totals 417,513 square feet.
Barclays Capital Real Estate Inc. financed $36.1 million of the deal.
The seller, an institutional real estate investment, management, and development firm, paid $24 million for the 42.67-acre property in 2016.
CBRE Represented the seller.