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Sabal Financial buys 583,252 square foot office portfolio for $51.075M

Posted by   /  September 25, 2014  /  No Comments

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SabalBy: Business Real Estate Weekly

Companies formed by Sabal Financial Group L.P. in Newport Beach, Calif. (Patterson Jackson, CEO and co-founder) paid $51.075 million (blended average of $87.57 per foot) to buy a combined 583,252 sq. ft. of Phoenix office space. The sellers in four separate cash transactions were commercial mortgage backed securities (CMBS). The special servicer assigned to dispose the properties was CWCapital Asset Management LLC in Bethesda, Md. The Valley assets were sold as part of a larger portfolio sale that included additional office properties in other markets.

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