Amerant Bancorp Enters $135M Sale-Leaseback Deal for Office Headquarters in Coral Gables, Florida
CORAL GABLES, FLA. — Amerant Bancorp Inc., a Coral Gables-based bank holding company, has sold its Coral Gables headquarters to an entity doing business as FNLI Audax LLC in a sale-leaseback deal totaling $135 million.
Located at 220 Alhambra Circle, the Amerant Center spans approximately 177,000 square feet of office space and 134,000 square feet in structured parking. Built in 1997, the property will have 402 parking spots and was 82 percent occupied at the time of sale.
As part of this transaction, Amerant’s subsidiary, 220 Alhambra Properties LLC, entered into an 18-year triple-net leaseback agreement for about $43 per square foot during the first year. Stream Capital Partners represented Amerant on this transaction.