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Boutique Investment Firm Invades Central Florida

ORLANDO—“We were attracted to Cypress Point's central location and accessibility…”

By Jennifer LeClaire | jenniferleclaire | | Updated on July 05, 2016
Cypress Point is a six-building, 165,000-square-foot office park located at 10004-10014 Dale Mabry Highway. The office project is 88% leased. Cypress Point is a six-building, 165,000-square-foot office park located at 10004-10014 Dale Mabry Highway. The office project is 88% leased.
ORLANDO— HRE/Sefira Cypress , a joint venture between Highline Real Estate Capital and Sefira Capital , just acquired Cypress Point Office Park in Tampa, FL. The sale price: $13.125 million, Cypress Point is a six-building, 165,000-square- foot office park located at 10004-10014 Dale Mabry Highway. The office project is 88% leased. “The Tampa office market has seen incredible growth with over 4.4 million square feet of positive absorption and an 11% improvement in the market occupancy rate since the downturn,” David Moret, founder of Highline Real Estate Capital, tells GlobeSt.com. “With virtually no new supply in the pipeline we anticipate continued growth and believe there is a significant opportunity to add additional value through our proactive approach to asset management.” Mijael Attias and Aby Galsky formed Sefira Capital in September of 2015 as a boutique investment company focused on acquiring and developing commercial real estate .  The Cypress Point acquisition is Sefira´s second investment in the past two months following on the heels of its $52 million acquisition of a full service hotel in Cocoa Beach, FL in May. “We were attracted to Cypress Point’s central location and accessibility to Tampa’s primary labor pools which we believe will position us to capitalize on the strong office employment growth Tampa is experiencing,” says Mijael Attias, Sefira’s co-founder. The new owners intend to complete targeted property upgrades to leverage the rapidly improving Tampa office market. Former C REC principal David Moret launched Highline Real in February of 2016. The Cypress Point purchase marks the first acquisition under the new platform. Jeffrey Morris and Bret Felberg from JLL represented the seller, Tomorrow VII Cypress , in the sale of the project. Tarik Bateh from JLL’s Capital Markets Group arranged an acquisition loan for the buyers with TD Bank . Focus Real Estate Services will provide management and leasing services for the new ownership group.

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