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DRA Advisors Sells Office Portfolio in Metro Orlando to Brookdale Group for $130M

Colonial Center at TownPark was 96.9 percent leased at the time of sale to tenants such as Hartford Fire Insurance Co., Bank of New York, Fiserv, Pershing and IBM.

Colonial Center at TownPark was 96.9 percent leased at the time of sale to tenants such as Hartford Fire Insurance Co., Bank of New York, Fiserv, Pershing and IBM.

LAKE MARY, FLA. — A fund advised by DRA Advisors LLC has sold Colonial Center at TownPark, a four-building, 662,320-square-foot office portfolio located at 100, 200, 300 and 600 Colonial Center Parkway in Lake Mary. An affiliate of Atlanta-based Brookdale Group purchased the metro Orlando complex. The sales price was undisclosed, but the South Florida Business Journal reports the portfolio sold for over $130 million. Mike Davis, Michael Lerner and Rick Brugge of Cushman & Wakefield represented the seller in the transaction. The portfolio was 96.9 percent leased at the time of sale to tenants such as Hartford Fire Insurance Co., Bank of New York, Fiserv, Pershing and IBM.

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