From the Daily Record
A group led by Boca Raton-based IP Capital Partners LLC bought the 20-story Aetna Building on Jacksonville’s Southbank last month for $55.5 million.
GV-IP Jacksonville Owner LLC bought the building from SouthShore Group Partners LLC. Bank of America issued a $38.8 million mortgage.
Jason Isaacson is the founding partner and president of IP Capital Partners, a private real estate investment and asset management firm that also owns One Imeson Center in North Jacksonville.
“We are excited for our second acquisition in Jacksonville,” Isaacson said in a statement. “We look forward to continued investment in the city.”
IP Capital Partners was formed in January 2012 to focus exclusively on co-investing with institutional and high net worth joint venture partners in office, retail and industrial real estate in the major growth areas of Florida.
CBRE Inc. has been marketing the 20-story Southbank tower, often heralded as the tallest building in Florida when it was developed in 1955.
The Daily Record reported Sept. 24 that CBRE was the agent for the owner, SouthShore Group Partners Inc., in listing the almost 495,000-square-foot office building at 841 Prudential Drive.
No listing price was given in an opportunity statement. The building’s 2013 certified taxable value was almost $31.5 million and its 2014 market value in progress is $36.5 million.