Signature Exchange Trades To Florida Investor
Coral Gables-based America’s Capital Partners purchased the Signature Exchange, a two-building, 500k SF office complex on Preston Road.
The Class-A buildings were built in 1983 and 1986, respectively, and recently underwent $7M in renovations. The new owner plans a further expansion. The Signature Exchange is 90% occupied with tenants like EMC Corp, Regus, Equifax and Yardi Systems.
America's Capital Partners has been building its asset base since the downturn of 2007, primarily in Charlotte and Atlanta. This is its first Texas acquisition, but the firm will open a regional office in the Signature Exchange and look to bulk up its Texas holdings.
CBRE’s Gary Carr, Robert Hill, John Alvarado and Eric Mackey brokered. CBRE Capital Markets arranged a $58.5M loan for the acquisition.
