Miami-based venture buys Indianapolis office building for $70M

Miami-based Black Salmon Capital is part of the joint venture that acquired the 440,000-square-foot office property

Miami /
Mar.March 11, 2018 01:10 PM

Jorge Escobar

Miami-based commercial real estate investment firm Black Salmon Capital is part of a joint venture that bought an office building in Indianapolis for $70 million.

Black Salmon acquired BMO Plaza, which has about 440,000 square feet of interior space, by purchasing its former owner, a company called 135 N. Pennsylvania, LLC.

Black Salmon, led by CEO and managing partner Jorge Escobar, is part of TSG Group, a Miami-based group that plans to invest as much as $300 million in commercial real estate properties by 2019. Escobar owns half of TSG, formerly known as The Solutions Group.

BMO Plaza in Indianapolis

In November, TSG made its first acquistion, spending  $33 million for a 109,000-square-foot office building in San Francisco called the Offices at Public Market.

The Indianapolis acquisition continued Black Salmon’s strategy of “investing in prime commercial real estate properties throughout the U.S.,” Ryan D. Bailine, a shareholder in the Miami office of law firm Greenberg Traurig, said in a prepared statement.

Bailine led a team of real estate, tax and corporate attorneys at Greenberg Traurig that represented Black Salmon in the $70 million transaction.

The Greenberg Traurig team including shareholders Paul Berkowitz, Seth Entin, Jonathan Gelman, and Evan Kanter, and associate Travis Walker. – Mike Seemuth


Related Articles

arrow_forward_ios
David Grutman and Pharrell’s Goodtime Hotel had received nearly 30 noise violations (Carma Connected, Getty)
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Related Companies Chairman Stephen Ross with One Flagler (Related, Getty)
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Grover Corlew principal Mark Corlew with Bank of America Tower in Boca Raton (Grover Corlew)
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
The partially collapsed 12-story Champlain Towers South condo building (Getty)
Inside the tug-of-war over the Surfside condo site’s future
Inside the tug-of-war over the Surfside condo site’s future
Moishe Mana and the downtown parking lot he purchased (Google Maps, Getty)
Moishe Mana expands downtown Miami assemblage with $12M purchase
Moishe Mana expands downtown Miami assemblage with $12M purchase
(Photos courtesy of Miami Historic Preservation, Smith Aerials, Colliers)
Development site near MiamiCentral hits the market
Development site near MiamiCentral hits the market
Alliance Residential Company CEO Bruce Ward and 6595 Morikami Park Road (Google Maps)
Alliance Residential buys site, scores $46M construction loan for senior apartments in Delray Beach
Alliance Residential buys site, scores $46M construction loan for senior apartments in Delray Beach
Arbor Management Acquisition Company heads Ivan Kaufman and Maurice Kaufman with a rendering of Aventura Park (Anillo Toledo Lopez, iStock)
Arbor Management buys multifamily dev site near Aventura for $10M
Arbor Management buys multifamily dev site near Aventura for $10M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...