After almost a decade of ownership, TA Realty has sold its Centurion Tower to C-III Capital Partners for $26 million, at just about $181 per foot.
The Real Deal recently reported C-III Capital Partners LLC (“C-III”) purchased West Palm Beach’s Centurion Tower from TA Reality for $26 million. Boasting 14-stories, 143,966 square feet, and a 5-story attached parking garage, the Centurion Tower is one of West Palm Beach’s most desired office spaces. The tower offers its renters 24-hour security system, on-site leasing and property management and 24/7 building access. And as one of only a few Class A office buildings in the esteemed Palm Beach Lakes area, C-III’s attraction to the Centurion Tower comes as no surprise.
In fact, the purchase of the Centurion Tower is C-III’s second South Florida Class A office purchase in the last few months. Just in August, county records noted that C-III was an affiliate buyer of the Fairway Office Center. Similar to the Centurion Tower, the Fairway Office Center is also a Class A office complex and offers first-class amenities like parking and security.
Founded by Andrew Farkas in 2010, C-III Capital Partners is a leading commercial real estate service and investment and management company. Engaging in loan origination, principle investment, and fund management and primary and special loan servicing, C-III is known for their extensive experience and track record in the industry. Serving as C-III’s Chief Executive Officer, Farkas has been the driving force behind the company’s fast-paced growth and overall success. Under Farkas’s strategic leadership, C-III has completed several note-worthy acquisitions which continue to expand the company’s capabilities. In addition to his development and involvement with C-III Capital Partners, Andrew Farkas is also the CEO at Island Capital Group, CEO at Anubis Advisors and Chairman at Island Global Yachting.