Brookwood Parts Ways with Plaza 100 in Fort Lauderdale
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Plaza 100, Fort Lauderdale
Fort Lauderdale, Fla.—Brookwood Financial Partners LLC has sold Plaza 100, a 166,098-square-foot, Class A office building in downtown Fort Lauderdale. The property fetched $46.2 million, the equivalent of $278 per square foot, or $13.7 million more than what Brookwood paid for the asset back in 2014. Zurich Alternative Asset Management was the buyer, according to data from Yardi Matrix.
The real estate private equity firm purchased Plaza 100 in April 2014 for $32.5 million, through its Brookwood U.S. Real Estate Fund.
“We acquired the property at a time when the fundamentals of the Ft. Lauderdale office market were just starting to stabilize, and we believed that by investing targeted capital dollars in the building, we could increase both the property’s occupancy and rents,” Brookwood President & Director of Real Estate Acquisitions Thomas Brown, said in a statement…
