Brookwood Buys SW Florida Office Portfolio

The new owner of the 15 buildings plans substantial investments in the properties. The assets are located in Fort Myers and Bonita Springs.

Brookwood Financial Partners LLC, of Beverly, Mass., has acquired a 15-building, 421,300-square-foot office portfolio in southwest Florida for $43.2 million, or roughly $102.4 per square foot. The seller was AIG Global Real Estate, which came into possession of the portfolio in late 2012, following foreclosure actions against McGarvey Development Co., according to information provided by Yardi Matrix.

The assets make up three sub-portfolios: Renaissance Center, a four-story, 64,100-square-foot Class A office building in Fort Myers; Bonita Bay Executive Center, a five-building, 52,400-square-foot Class A business park in Bonita Springs; and Riverview Center, a nine-building, 305,000-square-foot Class A office park also in Bonita Springs. The portfolio is currently 83.8 percent occupied…

Brookwood Buys SW Florida Office Portfolio


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