JLL Arranges $44.2M Sale of Cypress Financial Center in Fort Lauderdale
FORT LAUDERDALE, FLA. — JLL Capital Markets has arranged the $44.2 million sale of Cypress Financial Center, a 201,305-square-foot, Class A office tower in Fort Lauderdale. JLL represented the seller, a joint venture between funds managed by Apollo Global Management, Square2 Capital and Steelbridge Capital. JLL also procured the buyer, Vision Properties.
Cypress Financial Center is located at 5900 N. Andrews Ave. and is 13 miles from Fort Lauderdale-Hollywood International Airport. The building has 250 feet of frontage along Interstate 95 and is situated across from the Cypress Creek Tri-Rail station and adjacent to the Fort Lauderdale Executive Airport.
The 11-story office tower features a six-level, 785-space parking garage. At the time of sale, Cypress Financial Center was approximately 90 percent leased to tenants including Hayes Medical Staffing, which anchors the office tower.
Hermen Rodriguez, Ike Ojala and Matthew McCormack of JLL represented the seller, which recently completed a multi-year renovation of the property.
Square2 Capital is an investment management company based in Miami that invests and operates throughout Florida and the Southeast, Steelbridge Capital is a Miami-based private equity firm that invests in single- and multi-tenant real estate properties nationwide and Vision Properties is a commercial real estate firm based in Tampa.