When joint venture partners DRA Advisors LLC and Banyan Street Capital decided to sell a five-building office portfolio at Waterford at Blue Lagoon business park, Cushman & Wakefield was selected to play the lead role in both brokering the sale and arranging financing for buyer Ivy Realty.
The deal was wrapped up in less than three months for about $191 per square foot, closing May 18. Greenwich, Connecticut-based Ivy acquired the buildings for $68.25 million, with CIBC World Markets Inc. providing $50.5 million in financing.
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