- Moishe Mana acquired the 394K SF 110 Tower in Fort Lauderdale for $89M.
- Gem Realty Capital sold the property below the $112.9M it paid in 2016.
- Mana financed the purchase with two City National Bank of Florida loans totaling $66M.
Moishe Mana has made his first Fort Lauderdale and Broward County investment with an $89M office acquisition. Bisnow reported that Mana bought 110 Tower at 110 SE Sixth St. from Gem Realty Capital. The seller had paid $112.9M for the building in 2016. Mana financed the purchase with two City National Bank of Florida loans totaling $66M. The transaction extends the developer’s South Florida footprint beyond Downtown Miami, where he owns more than 80 buildings.
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A New Market for Mana
The 394K SF office tower was built in 1987 and renovated in 2015. The 30-story property has up to 9,280 SF available for lease, according to a Colliers listing cited in the source. The acquisition gives Mana a sizable office presence in Fort Lauderdale on his first Broward County deal.
The purchase price represents a discount to Gem Realty Capital’s 2016 basis. That reset is notable because the building changed hands after nearly a decade of ownership. The financing also covers a substantial portion of the acquisition price, with $66M of debt against the $89M purchase. Mana is already a major Downtown Miami landowner, but his portfolio had not extended into Fort Lauderdale before this deal. The move therefore adds both a new city and a new county to his existing South Florida holdings.
The Details
The 110 Tower transaction was one of several large South Florida deals in the same period. Thor Equities purchased the 153K SF Two Town Center office building in Boca Raton for $62M. The 11-story property was built in 1986 and includes a 114K SF parking garage. Up to 24K SF was available for lease.
Elsewhere, Fort Partners acquired the 134-key Tideline Palm Beach Ocean Resort and Spa. Property records listed the real estate transaction at $112.6M. The buyer used $108M of debt, including assumed financing and a new Madison Realty Capital loan.
Industrial and retail assets also traded. Jet Engine Technology Corp. purchased a 112K SF Doral warehouse for $29.5M. Elysee Investments bought the fully leased Blue Lagoon Shoppes in Miami for $28M. Multifamily investment also appeared in the deal sheet. Stewards Inc. acquired the 214-unit Envy Pompano Beach through a $90M purchase of membership interests. The transaction included $42.7M of rollover equity and a $47.7M property-level loan. The 2020-built property was 89% occupied and includes a marina, retail space and a community center.
A separate Hialeah development faced distress. Slate Property Group and The Carlyle Group sought foreclosure on a site planned for a 347-unit apartment project. The complaint cited a $31.1M balance including interest, default fees and other charges.
Why It Matters
Mana’s purchase stands out because it opens a new market for one of Downtown Miami’s largest property owners. South Florida office investment remains active across multiple cities and deal sizes. The 110 Tower sale also shows buyers can secure large urban office assets below prior purchase prices.
The broader deal sheet shows capital moving across offices, hotels, industrial, retail and apartments. It also includes a $180M refinancing for the 932-unit Terrazul student housing project in Sweetwater. That loan retired existing construction debt and provided cash-out proceeds to the owners. The range of transactions shows that South Florida capital markets remain active even as outcomes vary by asset and borrower. Some properties are trading with new debt, while other projects face foreclosure claims. Mana’s deal fits the first group, with a conventional bank loan supporting a purchase below the seller’s prior basis.
What’s Next
For Mana, the immediate focus shifts to operating and leasing a 394K SF tower in a market he has not previously entered. The source lists up to 9,280 SF as available. His existing concentration remains in Downtown Miami, where he owns more than 80 buildings. The Fort Lauderdale acquisition will show whether his South Florida strategy expands further into Broward after this first purchase. The market will also provide a comparison with Mana’s long-running Downtown Miami strategy. If he adds more Broward assets, 110 Tower could become the first step in a broader geographic expansion rather than a one-off acquisition.
