Maitland Office Portfolio Sells for $35M

Tower Realty Partners, together with Dallas-based TriGate Capital, on Wednesday purchased three Maitland office buildings with collective square footage of 357,581 for $35.6 million, records show.

Better known as Maitland Green I, Maitland Green II, and Southpointe Executive Center, the portfolio had a combined occupancy of 82 percent at the time of sale.  Tenants include: St. Johns River Water Management District, Xerox, Brown & Brown Insurance, and Ellucian tech solutions provider.

The sellers, which were affiliated with New Boston Fund, purchased the trio of buildings for about $18 million during Recession in 2010.  The office midrises were built between 1985 and 1998, records show.

Source: Orlando Sentinel