FORT LAUDERDALE, FL—Los Olas Centre has a new owner. Deutsche Asset & Wealth Management's (DeAWM) real estate investment business snapped up 350 and 450 East Las Olas Boulevard in Fort Lauderdale on behalf of one of its clients.
Financial terms of the deal were not disclosed. A victim of the economic meltdown, the two towers faced a $219 million foreclosure in 2009, ironically after signing a series of lease renewals. It was 95% occupied at the time.
“Las Olas Centre is a great addition to our portfolio,” says Todd Henderson, head of Real Estate for the Americas at DeAWM. “We believe Las Olas Centre is the premier office asset in the market with exceptional amenities including its retail tenancy.”
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 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.
