Praedium sells properties for $32m.The Praedium Group LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and Orlando-based Tower Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. Partners, Inc. announced the sale of two joint venture office/flex properties in Orlando, Fla. for more than $32 million to Leasco Management Company of Costa Mesa Costa Mesa (kŏs`tə mā`sə), city (1990 pop. 96,357), Orange co., S Calif., on the Pacific south of Santa Ana; inc. 1953. It is a transportation, residential, and light industrial center. , Calif. The first, the Orlando Airport Business Center, was sold for $22.7 million, or $128 psf. The second, the Northlake Business Center, sold for $9.65 million, or $120 psft. Both properties were 100% occupied at the time of sale. Orlando Airport Business Center and Northlake Business Center were purchased by Praedium and Tower in April and November 2005, respectively. "Both the Orlando Airport Business Center and the Northlake Business Center were attractive opportunities because of the strong demand for office/flex space in the area," said Mark Lippmann, vice president at Praedium. "After acquiring the properties, we moved quickly to stabilize stabilize See peg. the assets. As a result, we were able to execute our business plan sooner than expected and exceed our investment return in a short period of time." Cliff Stein Stein , William Howard 1911-1980. American biochemist. He shared a 1972 Nobel Prize for pioneering studies of ribonuclease. , of Tower Realty Partners, said, "We are pleased with the results of our joint venture with The Praedium Group." Tower Realty Partners, Inc. is a commercial real estate firm established in 1987. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion