The Real Deal Miami

Miami’s Waterford Centre changes hands

New Boston Fund sells office building two years after acquiring it
May 08, 2014 12:00PM

Waterford Centre

Waterford Centre

New Boston Fund sold the Waterford Centre in Miami just two years after acquiring the property.

Ivy Realty of Greenwich, Conn. acquired the Class A office building from the Boston-based private equity firm, according to a written statement released on Thursday by CBRE. The price was not disclosed. Miami-Dade County has not recorded the sale of the 91,281-square-foot building.

New Boston paid $16.3 million for the 6205 Blue Lagoon Drive property. At the time, the building was 78 percent leased. The firm was able to get occupancy up to 91 percent before selling the property to Ivy.

Tenants include Intel subsidiary McAfee, Whirlpool Corp. and Xerox Corp.

CBRE brokers Chris Apone, Charles Foschini, Christian Lee and Jose Lobon represented New Boston. They were assisted by Blanca Commercial Real Estate’s Danet Linares. Boca Raton attorney Stuart Kapp represented Ivy. — Eric Kalis