Miami-area investor Moishe Mana has acquired the 110 Tower office building in a downtown location in a transaction priced at $89 million. The high-rise property, identified as an office asset, was sold by GEM Realty Capital. Located at 110 S.E. 6th St., the building totals 394,057 square feet of office space, positioning it as a sizable asset within the local commercial real estate landscape.
Financing for the acquisition was provided by National Bank of Florida, which originated a mortgage of $66.25 million to support Mana’s purchase. The involvement of a bank lender and a substantial senior loan underscores the role of traditional balance-sheet lending in facilitating this office investment. The South Florida Business Journal is cited as the source for details on the mortgage financing.
The 110 Tower has an established transaction history. It last changed hands in 2016, when it sold for $112.9 million. In 2019, the property’s mortgage was modified to a principal balance of $90.15 million. This track record of institutional ownership and financing adjustments highlights the building’s ongoing position within regional investment and lending strategies over the past decade.
The current purchase was executed as part of a 1031 real estate exchange. Under this structure, the buyer sought to reinvest proceeds from the sale of another property into this acquisition in order to achieve tax savings. The use of a 1031 exchange indicates that the buyer is actively recycling capital within a broader portfolio rather than deploying capital on a one-off basis.
The office tower offers a mix of amenities for tenants, including a fitness center, a restaurant, and a conference center. These features are intended to support both daily workplace needs and on-site meetings, enhancing the appeal of the asset to office users. Such amenity packages can play a role in differentiating office properties within competitive downtown submarkets.
This deal is one of several office investments Mana has executed recently. Earlier in the year, Mana completed a $110 million purchase of the One Downtown office tower, further expanding his office holdings. Together, these transactions illustrate an ongoing capital deployment strategy focused on office properties, using both bank financing and tax-efficient structures such as 1031 exchanges.
