The buildings acquired were the four-story, 266,881-sf MaitlandForum building at 2600 Lake Lucien Drive and the four-story,102,169-sf Park Center building at 2500 Maitland Center Parkway.Both contain on-site cafes, large floor plates and a four space per1,000-sf parking ratio.

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"Maitland Center is one of the tightest submarkets in Florida,"says Eola Capital founder and CEO Jim Heistand, in a preparedstatement. "With this acquisition, we're strengthening our positionin one of the Southeast's strongest markets. Orlando, andespecially Maitland Center, has a lot of potential right now, withstrong employment, single-digit vacancy and rental-rate growth thatwe expect to continue."

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The sellers were New York City-based DRA Advisors andMaitland-based Tower Realty Partners Inc. Maitland Center islocated near Interstate 4 and connects the Tampa, Lakeland, Orlandoand Daytona Beach areas. The properties were capitalized through ajoint venture with a public sector fund and a private equity fundraised and managed by Eola Capital's principals. Bank of Americawill provide debt for the transaction. Eola Capital plans to makecapital improvements to the properties.

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With the acquisition, the company owns five properties in theOrlando area with a total of 1.04 million sf. The purchaseincreases the company's total assets to more than $1.6 billion withmore than 10 million sf.

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