Donald Quintin Of Lone Star Funds Acquires Coral Gables Office Complex For $119.6M

The Alhambra office complex, comprising two addresses at 2 Alhambra Plaza and 95 Merrick Way, is located in the Coral Gables market. This office asset spans 317,566 square feet and was sold for $119.6 million, equating to a price per square foot of $377. The property reflects a muted value growth, having last traded for $118.55 million in 2015.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $119,600,000
• Buyer: Donald Quintin - Lone Star Funds
• Seller: Stefan Hoops - DWS Group; RREEF Alternative Investments
• Lender: FS Credit Originator
• Mortgage Amount: $98.47 million
• Previous Sale Price: $118.55 million
• Square Footage: 317,566
• Price per Square Foot: $377

The buyer of the property is affiliated with Lone Star Funds, specifically LSREF7 Alhambra Propco LLC, while the seller was represented by DWS Group and RREEF Alternative Investments through DGE Alhambra LP. The financing for this transaction was provided by FS Credit Originator, which facilitated the mortgage through loan assumption and upsizing.