Downtown Jacksonville Bank Of America Tower Sold As Part Of $75.5M Deal

Group RMC of New York City bought Jacksonville’s tallest office high-rise – the 42-story Bank of America Tower – and two other Downtown buildings Dec. 15 for $75.5 million.

The other two structures sold are the adjacent Iberiabank building and a parking garage, according to WJCT News partner the Jacksonville Daily Record.

Prime Finance Partners of Chicago financed the deal for almost $61.3 million.

Group RMC bought the property through Jacksonville Tower Florida Realty LP from Hertz Jacksonville One LLC.

The Hertz Investment Group, a California-based real estate investment and management group that focuses on downtown revitalization, paid $88 million for the property in July 2014.

Hertz sold the property for 14% less than it paid six years ago.

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