South Florida has become one of the most attractive places to live and work in, and even cross-border investors are betting big on the region. The exodus of tech and creative businesses created an unprecedented demand for amenitized office space—and Boca Raton Innovation Campus in Boca Raton, Fla., is designed to meet growing tenant needs.
The new partner in the joint venture is DRA Advisors, a New York-based real estate investment company with $11.2 billion in assets under management. Though news reports said DRA had bought the 123-acre, 1.7 million-square-foot complex where IBM developed the personal computer, CP Group Managing Partner Angelo Bianco called the transaction a “recapitalization,” not a sale.
BOCA RATON, Fla. — IBM’s former home in Boca Raton could be in for a transformation. It's thanks to a new multi-million dollar investment. “$320 million, which is a massive, massive investment,” said Thomson. “I think a reflection of the fact that in Boca Raton, it's a great place to be, it’s an attractive place to be, and the DRA Advisors firm wanted to have a piece of the action.”