Halstatt Real Estate Partners has sold the Galleria Building in North Naples, Florida. No financial terms were disclosed. Halstatt bought the property in partnership with KOVA.
NAPLES, Fla.–(BUSINESS WIRE)–Halstatt Real Estate Partners, a real estate private equity firm, today announced the sale of the Galleria Building in North Naples. Halstatt, in partnership with KOVA, purchased the property and implemented a leasing stabilization and improvement plan that increased occupancy to 100%.
“The property is a premier class ‘A’ building located in the epicenter of the North Naples office market. It benefits from being conveniently located along three central roadway arteries allowing access from all areas of Naples,” said Katie Sproul, chief executive officer, Halstatt. “We worked with KOVA to improve, lease and manage the building and are very pleased with the result.”
The building has more than 30,000 square feet of office space and was recently renovated. It is currently 100% leased with momentum being driven by the surrounding area and desire for a live, work, play culture.
Galleria is located in Collier County, which offers deep resources for everything from start-up business loans and workforce training to accelerators that can jump-start a business, allow it to expand or move here from a foreign country or out of state. Collier County benefits from the same demand trends that have made the entire state of Florida an attractive place to live and start businesses. The county is the 10th fastest growing metropolitan area in the country, according to the U.S. Census Bureau and allows residents to escape the crowds and stress of larger cities.
Halstatt Real Estate Partners identifies value add and opportunistic real estate projects throughout the Florida market. The company partners with qualified sponsors to develop and implement a strategic business and capital improvement plan to maximize demand driven development opportunities.
About Halstatt Real Estate Partners
Halstatt Real Estate Partners (“HREP”), a women-owned real estate private equity firm, has participated in the acquisition and development of over $850 million in Florida-based real estate assets since 2011. Founded by the Sproul family, based in Naples, Florida, and a proud part of the Barron Gift Collier legacy in Southwest Florida, HREP invests in middle market, value add and opportunistic commercial and residential real estate projects. HREP works with best-in-class local and regional operating partners to maximize the value of its real estate investments. HREP invests alongside a cross-section of institutional limited partners from fund to fund including charitable foundations and endowments, domestic and international family offices, and corporate pension funds with a history of continuity. www.halstatt.com