An affiliate of Banyan Street Capital sold the Tower 101 office buildings in downtown Fort Lauderdale for $56.3 million, an 87 percent gain after four years.
Tower 101 Associates, managed by Rodolfo Prio Touzet, CEO of Miami-based Banyan, sold the office complex at 101 N.E. 3rd Ave. to Ivy Tower 101 Property, part of Ivy Realty in Montvale, New Jersey. Bank of America financed the deal for $35.9 million.
The two buildings total 444,326 square feet, with about 227,000 square feet leasable and the…
