MIAMI—Concorde Centre II, a 10-story, 106,500-square foot office building in Aventura, has traded. It's the first major office asset trade in this Miami submarket in 2012. The last major office sale in Aventura was One Turnberry Place that sold in 2011 for $53 million or $389 per square foot.

Steelbridge Capital, a value focused real estate investor based in Miami, and a real estate investment fund managed and advised by affiliates of Apollo Global Real Estate Management, acquired the office building in an off-market transaction. This deal marks the largest office purchase in Aventura in 2012.

Jay Caplin, managing principal of Steelbridge, tells GlobeSt.com the deal was negotiated principal to principal, but what was even more rare was that the office property has been owned by the same partnership since it was built in 1988. In other words, this is the first time it traded hands. What's more, the building was leased and managed by the same local company for many years.