San Diego firm pays $208.1M for 3 office buildings in downtown Orlando

The seller, Atlanta-based Cousins Properties, also just sold its interest in the Courvoisier Center in Miami

TRD MIAMI /
Dec.December 31, 2017 11:00 AM

The Bank of America Center in downtown Orlando

An investment firm based in San Diego, California, paid $208.1 million for three office buildings that define much of the downtown skyline in Orlando. San Diego-based Southwest Value Partners bought the 27-story Bank of America Center, 19-story One Orlando Centre and 18-story Citrus Center, which have a combined total of one million square feet. The seller was Atlanta-based Cousins Properties, which recently sold its 20 percent interest in Courvoisier Center, a 343,000-square-foot office building in Miami’s Brickell Key area, for $33.9 million.

The three-building deal in downtown Orlando  follows other high-priced property investments there in the last year, including the Blackstone Group’s $105 million purchase of the 55 West apartment tower in April. Church Street Plaza, a mixed-use development in downtown Orlando with 200,000 square feet of office space and a 180-room hotel, has drawn a $74.8 million construction loan. [Orlando Sentinel] — Mike Seemuth

 

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