Investcorp, in a joint venture with an affiliate of Koger Equity Inc., acquired all of the partnership interests in Broward Financial Centre in downtown Fort Lauderdale, Fla.
The transaction was valued at approximately $60.1 million.
Broward Financial Centre is a 24-story, 325,000-square-foot class A office building located at the corner of Federal Highway (US-1) and Broward Boulevard.
At the time of sale, the property was 88 percent leased to a diverse roster of tenants, including Franklin Templeton Corporate Services Inc., the GSA (U.S. Attorney’s Office) and Citibank.
Koger will provide property management and leasing services to the property.
Investcorp’s New York-based team of real estate professionals focuses on high-quality existing commercial, hotel and residential properties.
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