CP Group, Rialto Capital, And Sabal Capital Partners Acquire Office Building In Miami For $225M

Located at 2 South Biscayne Boulevard in Miami, this office property was recently sold in a closed transaction. The deal was finalized on June 30, 2021, with a sale price of $225,000,000. The property spans 691,980 square feet, resulting in a price per square foot of $325. The transaction involved CP Group represented by Brett Reese, Rialto Capital Management represented by Jeff Krasnoff, and Sabal Capital Partners represented by Pat Jackson as the buyers. The seller in this deal was Dow Chemical. Christian Lee and José Lobón from CBRE, along with Brian Gale and Andrew Trench from Cushman & Wakefield, served as the brokers.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $225,000,000
• Address: 2 South Biscayne Boulevard, Miami
• Market: Miami

The buyers involved in this transaction were CP Group represented by Brett Reese, Rialto Capital Management represented by Jeff Krasnoff, and Sabal Capital Partners represented by Pat Jackson. On the other side, Dow Chemical acted as the seller. The deal was facilitated by the brokers Christian Lee and José Lobón from CBRE, as well as Brian Gale and Andrew Trench from Cushman & Wakefield.