The Real Deal Miami

Doral office sold after mortgage discount

October 05, 2010 11:15AM

One Park Square

The Massachusetts-based New Boston Fund has purchased the One Park
Square office tower in Doral after lender Regions Bank agreed to a
discounted payoff on a $54 million mortgage. The price was not disclosed
by New Boston, which purchased the property from an affiliate of Shoma
Development. The property, which is 281,623 square feet, is the only part
of Park Square completed by Shoma, and is 11 percent leased. The
11-story building is close to the Palmetto Expressway and Miami
International Airport. [SFBJ]