Shutts & Bowen’s Real Estate team, led by partners Elizabeth M. Jones and John C. Strickroot, Jr., recently assisted in the $32.5 million purchase of West Palm Beach’s EcoPlex, a 100,525-square-foot office building.
The project is a joint venture between MHCommercial Real Estate Fund II, a West Palm Beach-based discretionary real estate private equity fund, and Waterfall Asset Management, a New York-based, SEC-registered institutional asset manager. Financing was provided by Loancore Capital. Elizabeth and John represented the buyers in the transaction.
The acquisition is the second Palm Beach County joint venture between MHCREF and Waterfall. Palm Beach County commercial real estate firm NAI/Merin Hunter Codman will manage and lease the property.
To read more about the sale, please click here.
About Elizabeth M. Jones
Elizabeth M. Jones is a partner in the West Palm Beach office of Shutts & Bowen LLP, where she is a member of the Real Estate Practice Group. Elizabeth has significant experience in a wide range of Florida real estate issues, including the acquisition, disposition, leasing, financing, entitlement, and development of all types of commercial property, including office buildings, retail centers, industrial, and mixed-use developments.
About John C. Strickroot, Jr.
John C. Strickroot, Jr. is a partner in the West Palm Beach office of Shutts & Bowen LLP, where he is a member of Real Estate Practice Group. A former commercial banker and General Counsel to a large real estate developer, John represents lenders, borrowers, buyers, sellers and developers in connection with their complex commercial transactions, financing, including sophisticated mezzanine/equity financing, restructured loan transactions, loan workouts, foreclosure, and collection litigation matters.