Moishe Mana Acquires Fort Lauderdale Office Tower for $89 Million

Moishe Mana, a major landowner and developer known for his extensive holdings in Downtown Miami, has completed his first acquisition in Broward County. Mana paid $89 million for the 110 Tower, a 394,000-square-foot office building located at 110 SE Sixth Street in Fort Lauderdale.

The seller, Gem Realty Capital, had acquired the property in 2016 for $112.9 million, indicating a significant price adjustment in the current market. The transaction was financed with two loans totaling $66 million from City National Bank of Florida. Built in 1987 and renovated in 2015, the 30-story tower currently has up to 9,280 square feet available for lease. This move signals Mana's strategic expansion beyond his established Miami base into new South Florida markets.

For developers and investors, this deal highlights continued activity in the South Florida office market, even for older assets, and demonstrates a notable investor's willingness to enter new submarkets.