Investors Buy Coral Gables Office Building

A real estate investment firm on Thursday announced its purchase of a Coral Gables office building.
Miami-based Altis Cardinal LLC purchased the 10-story property at 901 Ponce de Leon Blvd. for $22.5 million.
The 177,848-square-foot building sits on 1.29 acres, according to the Miami-Dade County appraiser’s records.
Tenants include American Airlines, DeVry University and Stantec, a publicly traded engineering company.
The purchase was a combined effort between Altis, managed by NEO developer Frank Guerra, and TMSA, a Montreal-based real estate investment fund. It is the fourth joint deal between the companies.
The seller was A&H 901 Ponce LLC, managed by 901 SM Corp., which lists Alfredo Henao as a corporate officer.
 
Source: DBR
 

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