Search
 

Insurer Sells Oracle, Fannie Mae Office Space

MIAMI—Northwest Mutual sold the office assets to a joint venture between Banyan Street Capital and DRA Advisors free and clear of existing debt. Find out how much the assets fetched.

By Jennifer LeClaire | Updated on November 07, 2013

MIAMI—Pinnacle Corporate Park 1 and II—two class A suburban office buildings totaling 262,434 square feet in Fort Lauderdale, FL—have traded hands. Northwest Mutual sold the office assets to a joint venture between Banyan Street Capital and DRA Advisors for $38.1 million free and clear of existing debt.

HFF managing director Hermen Rodriguez, director Ike Ojala, and senior real estate analyst Jorge Portela represented the seller. That brings HFF’s office transaction closings to more than $48 million across all capital markets platforms in the state of Florida in 2013.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.