Moishe Mana Acquires Fort Lauderdale Office Tower for $89 Million

Moishe Mana, a notable Miami real estate investor, has acquired the 30-story 110 Tower in downtown Fort Lauderdale for $89 million. The 777,248-square-foot office building, located at 110 Southeast Sixth Street adjacent to the Broward County courthouse, was originally built in 1987. City National Bank of Florida provided a $66.3 million acquisition loan for the transaction.

This purchase marks Mana's expansion beyond his extensive holdings in Downtown Miami and Wynwood. The previous owner, Chicago-based GEM Realty Capital, sold the property at a significant discount compared to its 2016 purchase price of $112.9 million. The Broward County office market has shown a slower post-pandemic recovery than Miami-Dade and Palm Beach counties. This acquisition highlights the varying market conditions within South Florida, potentially offering a strategic opportunity for investors seeking discounted assets in specific submarkets.