The Related Cos., founded and led by Miami Dolphins owner Stephen Ross, bought downtown West Palm Beach waterfront office jewel Phillips Point for $282 million.
This likely is the biggest office transaction since the onset of the coronavirus pandemic and shows Ross is bullish on the market and downtown West Palm Beach, where he owns some of the most significant assets.
The Related affiliate 777 South Flagler Associates LLC bought Phillips Point from affiliate of Boston-based AEW Capital Management LP, CPT Phillips Point LLC, for $281.85 million, according to a Palm Beach County deed.
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Lidia Dinkova
Lidia Dinkova covers South Florida real estate for the Daily Business Review. Contact her at [email protected] or 305-347-6665. On Twitter @LidiaDinkova.
