Three Plantation Office Buildings Trade In $78 Million Deal

Starwood Capital Group sold three office buildings and a bank building in the Crossroads Business Park in Plantation for a combined $78.42 million.

SVT Crossroads Business Park I, an affiliate of Miami Beach-based Starwood, sold the 101,441-square-foot office building at 8201 Peters Road and the 416-square-foot bank building 8221 Peters Road to Plantation Crossroads I LLC, an affiliate of C-III Capital, for $26.11 million. Built on the 5.2-acre site in 1997, the buildings last traded for $20.5 million in 2015.

SVT Crossroads Business Park II sold the 101,441-square-foot office at 8151 Peters Road to Plantation Crossroads II LLC for $26.47 million. It was built on the 6.6-acre site in 1999 and last sold for $18.5 million in 2015.

SVT Crossroads Business Park IV sold the 101,441-square-foot office at 8050 S.W. 10th St. to Plantation Crossroads IV LLC for $25.84 million. Built on the 8.3-acre site in 2001, it last traded for $21.25 million in 2015.

The buyers were all affiliates of C-III Capital Partners, a commercial real estate investment firm in Irving, Texas. Parlex 15 Finco LLC, an affiliate of Blackstone, provided a $61.2 million mortgage for the deal.

A Starwood affiliate still owns the fourth building in Crossroads Business Park.

 

Source:  SFBJ

 

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