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Steelbridge Capital purchased the 17-story, 270,000-square foot SunTrust Center last Friday for a total of $90 million. A new lease with SunTrust Bank recorded along with the sale, as well as a new $75.4 million loan with Blackstone Mortgage Trust.
The SunTrust Center consists of two buildings built 1991 and 1972 of seventeen and three stories, respectively. It is located at the northwest corner of Federal Highway and Las Olas Boulevard in Fort Lauderdale.
A new ground lease was recorded for the property with Steelbridge as both landlord and tenant. Two historical ground leases exist on small parking lot portions of the office.
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