CP Group And Co-Developers Acquire Mizner Park Mixed-Use Property In Boca Raton For $XXX Million

The mixed-use property located at 327 Plaza Real in Boca Raton, FL, encompasses 838,840 square feet and features retail, office space, and 272 apartment units. The asset was transacted in a sale that involved multiple significant investment entities.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: Not specified
• Address: 327 Plaza Real
• Market: Boca Raton, FL
• Asset Size: 838,840 square feet
• Buyer: Angelo Bianco - CP Group; Michael Van Der Poel - ACRE; Alex Abrams - StepStone Group; Jonathan Schmerin & Adam Flatto - The Georgetown Company
• Seller: Brookfield Asset Management
• Broker Representatives: Danny Finkle, Matt McCormack & Michael Roukis - JLL
• Lender: Blackstone
• Mortgage Brokers: Daniel Kaufman, Preston Bacon & Paul Stasaitis - JLL

CP Group, The Georgetown Company, ACRE, along with their investment partner StepStone, acquired the Mizner Park property and plan to undertake a significant repositioning of the development, which includes enhancements to its retail and office space along with the apartment units. CP Group is noted to be returning as the property's original developer.