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How Will This Move Impact Iconic Office Building?

MIAMI—Coral Gables' famed Douglas Entrance fetched $100.75 million when it traded just over a year ago. Now, its owners are doing something big.

By Jennifer LeClaire | Updated on June 25, 2015

MIAMI—Coral Gables’ famed Douglas Entrance fetched $100.75 million when it traded just over a year ago. Now, Banyan Street Capital and Oaktree Capital Management, the landmark office campus’ owners, is getting a $7 million facelift.

Ownership is in the middle of a modernization project to restore the office property’s iconic status as the original entrance to Coral Gables. The goal is to maintain the property’s appeal among top-tier domestic and multinational users.

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