MIAMI—An eight-building office portfolio has traded hands in Jacksonville for $130 million. CBRE closed the sale and secured $84.5 million in financing on the 1 million-square foot office portfolio.
CBRE represented Flagler, the seller of Deerwood North and Deerwood South. CBRE also arranged financing for the buyer, PKY Deerwood, LLC, an affiliate of Parkway Properties, Inc.
“Deerwood North and South provided the opportunity to achieve critical mass in the Deerwood submarket with a stable rent roll and quality tenancy,” says Christian Lee, vice chairman and lead CBRE broker on this transaction. Deerwood North and Deerwood South consist of eight office buildings developed from 1996 to 2005.
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