Friday, June 3, 2016

HFF closes $16.75 million sale of boutique office building along “Bankers Row” in Palm Beach, FL

The Royal Palm Office Building, 250 Royal Palm Way, Palm Beach, FL

Ike Ojala
MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $16.75 million sale of The Royal Palm, a three-story, 23,362-square-foot, boutique office building in Palm Beach, Florida.

HFF represented the seller, Ivy Realty, in the transaction, and procured the buyer, EPIC.  The property was sold free and clear of existing debt.

The Royal Palm is situated at 250 Royal Palm Way along “Bankers Row” just one mile from downtown West Palm Beach.

  This location is home to dozens of top wealth management companies, banks and private equity funds, among others.  Extensively renovated in 2012, The Royal Palm is 88 percent leased to a diversified tenant roster led by Deutsche Bank and Northern Trust.

 Property amenities include a two-level, 79-space parking garage and seasonal valet and doorman services.

The HFF investment sales team representing the seller was led by Ike Ojala, Hermen Rodriguez and Jorge Portela.
“250 Royal Palm received broad investor interest from institutions and private investors alike, thanks to its marquis rent roll, Bankers’ Row location, generous structured on-site parking and recent complete renovation expertly done by Ivy,” said Ojala.

 For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Director, Marketing
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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