**Lone Star Funds-Led Team Acquires Coral Gables Office Complex for $119.6M**
Lone Star Funds, in partnership with Highline Real Estate Capital and Square2 Capital, has acquired The Alhambra, a prominent office complex located in Coral Gables, South Florida, for $119.6 million. The sellers were DWS Group and RREEF Alternative Investments. The property previously changed hands in 2015 for $118.55 million.
The Alhambra is a Class A office property situated in downtown Coral Gables. It comprises two buildings adjacent to a Hyatt Regency Hotel and offers a combined total of 326,451 square feet of office space.
This acquisition is Lone Star’s second office investment in South Florida in recent months. In February 2025, the firm also acquired 401 East Las Olas Boulevard, a 410,561-square-foot Class AA office tower in Fort Lauderdale.
JLL Capital Markets represented the seller in the transaction. Additionally, Paul Stasaitis and Michael Romero of JLL Capital Markets arranged financing on behalf of the buyers.
