Golden Bear Plaza office complex in Palm Beach Gardens sells for $50M, securing The Real Deal South Florida‘s #4 Sale of 2020.
A Palm Beach Gardens office complex built by Jack Nicklaus’ development company sold for $49.8 million. Terra Funding GB, tied to Alliance HSP, sold the 243,000-square-foot Class A office complex for $204 per square foot to a joint venture between Waterfall Asset Management and MHCommercial Real Estate Fund. The Waterfall Asset Management and MHCommercial Real Estate Fund bought a leasehold interest in Golden Bear Plaza, which means the group only purchased the office buildings, but not the land.
MHCommercial was formed in the fall of 2019 by Dung Lam, Neil Merin and Jordan Paul, principals of West Palm Beach-based NAI/Merin Hunter Codman. Waterfall is a New York-based registered investment advisor. Bryn Mawr, Pennsylvania-based Alliance HSP is led by Clay Hamlin III, Jay Shidler, and Richard Previdi.
Click here to learn more about the prestigious Golden Bear Plaza, including current availabilities and amenities.