London’s JZ Capital Partners acquires office building in West Palm Beach, Florida
JZ Capital Partners Limited , the London listed fund that invests in US and European micro-cap companies and US real estate, alongside its long-term real estate partner, RedSky Capital, LLC and The Clark Estates, has acquired
Esperante Corporate Centre , a landmark office building in West Palm Beach, Florida.
Located at 222 Lakeview Avenue in downtown West Palm Beach, Esperante sits at the gateway to the island of Palm Beach, providing tenants with easy access to beachfront residential neighbourhoods and local amenities alike.
The acquisition represents JZCP’s first investment in West Palm Beach, further diversifying the geographic concentration of JZCP’s South Florida real estate portfolio. The purchase price of the property was $125.8 million, of which JZCP provided $18.6 million.David Zalaznick, JZCP’s Founder and Investment Adviser, commented: “We are delighted to add this property to our growing and diversified real estate portfolio in South Florida.
Esperante is a unique asset in a very desirable location in West Palm Beach, which has seen an influx of high-quality corporate employers and a concurrent increase in demand for prime office space.”