Capital Plaza in Deerwood Park sold for $51.46 million

Pennsylvania-based real estate investment firm acquires two-building office portfolio.

  • By Daily Record Staff
  • | 3:44 p.m. July 12, 2019
  • | 5 Free Articles Remaining!
  • Real Estate
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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.

 

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