CP Group And Related Cos. Acquire Office Building On E. Las Olas Blvd In Fort Lauderdale For $144.5M

Located at 501 & 515 E. Las Olas Blvd in Fort Lauderdale, this office property was recently sold in a transaction involving CP Group, led by Brett Reese, and Related Cos., represented by Stephen Ross. The sellers were Steelbridge Capital and Square2 Capital, represented by Jay Caplin and Apollo Global Management.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $144,500,000
• Address: 501 & 515 E. Las Olas Blvd
• Market: Fort Lauderdale
• Buyer: CP Group - Brett Reese & Related Cos. - Stephen Ross
• Seller: Steelbridge Capital, Square2 Capital - Jay Caplin & Apollo Global Management
• Brokers: Christian Lee, Andrew Chilgren & Amy Julian - CBRE
• SF: 267,955
• Price per Square Foot: $539

Christian Lee, Andrew Chilgren, and Amy Julian from CBRE were the brokers involved in this sale. The transaction took place on 03/16/2022, and the property spans approximately 267,955 square feet. The sale price for this office space was $144,500,000, resulting in a price per square foot of $539.