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Wellington office park trades at $18.3M discount

Wellington Office ParkAfter the downfall of the housing market last 2008, the Wellington Reserve Office Park was detained by a commercial mortgage-backed securities trust for not being able to pay its $28.8 million mortgage. Just recently, a firm that obtained almost $100 million of tormented Florida properties in 2012 also purchased the park at a discount of 64%.

They bought it for $10.5 million at almost $18.3 million discount. Location is at 1035-1049 State Road 7, featuring a Class A medical office that is now 60% occupied and other tenants like the Palm Beach Atlantic University, Premier Health, and Comerica bank.

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