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New Boston Snags Southpoint Executive Center

ORLANDO-The Boston-based company took a controlling interest in the 137,000-square-foot class A office building.

By Hortense Leon | Updated on May 15, 2010

ORLANDO-Boston-based-New Boston Fund Inc., a private equity real estate investment, development and management firm, acquired a controlling interest in the 137,000-square foot Southpoint Executive Center, a Class A office building in the Orlando suburb of Maitland, on May 12th. The former owner of the property, now a minority partner, is the Stiles Corp. of Ft. Lauderdale.

Stiles purchased the Southpoint Executive Center in 2007, but the building, which is 20 years old, lost tenants over the last few years, the most important being Embarq, a telecommunications company, which occupied roughly 60,000 square feet. After the company was acquired by CenturyTel Inc., now CenturyLink, last summer, it left Southpoint.

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