Deutsche Bank / DWS Sells Coral Gables Office Complex to Lone Star for $119.6M

DWS Group and RREEF, Deutsche Bank's asset management and property trust arms, sold the Alhambra office complex in Downtown Coral Gables, Florida to a joint venture led by Lone Star Funds alongside Square2 Capital and Highline Real Estate Capital for $119.6 million - just $1 million more than Deutsche Bank paid a decade ago. The 326,400 SF, two-building complex at 2 Alhambra Plaza and 95 Merrick Way is 87% leased. Lone Star assumed the seller's Rialto Capital loan and boosted it by $40.2 million to a total of $98.4 million.