The Real Deal Miami

Coral Gables office building sells for $22.5M

Company linked to Canadian investment firm is the buyer of 901 Ponce

August 19, 2014 01:30PM

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901 Ponce de Leon Boulevard

901 Ponce de Leon Boulevard

A company tied to Canadian investment firm TMSA Florida Real Estate paid $22.5 million for a Coral Gables office building.

TMS Altis 901 LLC acquired the Class A building at 901 Ponce De Leon Boulevard for $211 per square foot in a transaction recorded on Friday, according to Miami-Dade County records. A&H 901 Ponce LLC of Coral Gables sold the property to the TMSA company. Alejandro Sanchez-managed A&H paid nearly $28 million for the 107,000 square foot building in October 2006.

A&H received a $16.9 million loan from A10 Capital for the acquisition.

The building was constructed in 1986. AmericanAirlines is the anchor tenant. — Eric Kalis

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