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| Sawgrass International Corporate Park, Fort Lauderdale, FL |
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| Hermen Rodriguez |
MIAMI, FL – Holliday
Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and secured
financing for a four-property, Class A office portfolio totaling 348,676 square
feet in Fort Lauderdale’s Sawgrass
International Corporate Park.
HFF represented seller, F6
Sawgrass, LLC, an affiliated entity of The Brookdale Group. M-M Properties and a large institutional
investor purchased all four assets for $75 million.
Additionally, HFF assisted the new owner in
securing $51.13 million in acquisition financing through J.P. Morgan.
The portfolio consists of
four assets within the Sawgrass International Corporate Park in Fort
Lauderdale: Corporate Center I (1551 Sawgrass Corporate Parkway) and III (1601
Sawgrass Corporate Parkway), International Place I (1560 Sawgrass Corporate
Parkway) and Sawgrass Plaza (1550 Sawgrass Corporate Parkway).
This location is close to
Interstates 75 and 595, and the Sawgrass Expressway and is just southwest of
the Sawgrass Mills Mall, which sees more than 25 million visitors per year,
making it the second most visited attraction in Florida after Walt Disney World
Resort.
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| Ike Ojala |
Overall, the buildings, built between 1997 and
2000, are 93 percent leased to tenants including Centene Management, eFunds
Corporation, Regus Business Centre, Interim HealthCare and Marsh USA, Inc.
The HFF investment sales
team representing the seller included senior managing director Herman Rodriguez, director Ike Ojala and associate director Jorge Portela.
HFF’s debt placement team
representing the buyer/borrower was led by senior managing directors Paul Stasaitis and John Brownlee.
For a complete copy of the company’s news
release, please contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
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