January 7, 2020
Privately held investment firm TerraCap Management has sold Lake Destiny, a four-story, 57,392-square-foot office building in Orlando’s Maitland submarket for $7 million.
Joe Rossi and T.J. Campton of Colliers International Central Florida represented TerraCap in the transaction. The buyer was not disclosed. TerraCap acquired the building in December 2015 at 56% occupancy, and, after a repositioning project, the occupancy increased to over 80% today.
“TerraCap’s Lake Destiny portfolio serves as an excellent case study on exactly how to properly execute a true value-added strategy from start to finish,” said Rossi. “It was a pleasure working with TerraCap through the entirety of their strategy.”
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