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Worldwide Plaza co-owner grabs SoFla retail sites for $85M

DRA Advisors acquires Paraiso Parc, Westfork Tower from Terranova

Regal Cinemas at Westfork Tower in Pembroke Pines
Regal Cinemas at Westfork Tower in Pembroke Pines

From the South Florida site: New York-based DRA Advisors — which owns the 59-story Worldwide Plaza with George Comfort & Sons and RCG Longview — acquired adjacent Pembroke Pines retail centers from Miami Beach-based Terranova for more than $85 million.

Companies tied to DRA picked up Paraiso Parc and Westfork Tower on May 21, according to Broward County records. The company recorded the transaction on Tuesday. DRA assumed a $19.12 million loan from MetLife as part of the transaction.

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The Terranova-managed companies paid about $39 million for Paraiso Parc in March 2007 and more than $58 million for Westfork Tower in September 2005.

Paraiso Parc was constructed in 2006 at 15703-15759 Pines Boulevard. The nearly 85,000-square-foot center is anchored by Publix. The Paraiso sale also included a SunTrust Bank branch.

Westfork Tower was built in 1998 and has more than 268,000 square feet. The 15805-15999 Pines Boulevard center’s tenants include Navarro Pharmacy, Payless ShoeSource and Regal Cinemas. — Eric Kalis

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