The Fort Lauderdale office of Wachovia Securities Real EstateCapital Markets managing director Steven Russo and vice presidentDavid Auerbach handled the transaction. Auerbach tells GlobeSt.comthat the financing will pay for a portion of the acquisition andconversion costs. "It's one of the nicest properties in the areaand should do well as an office condo project," Auerbach says.

The SBS Tower was owned by Irradio Holdings Ltd. The class Aoffice tower is a multi-tenanted property, and the sale includedthe attached parking garage and 16 townhouse units on the property.Leasing and management was handled by CB Richard Ellis. Amongcurrent building tenants are Barmello, AJamill and Partners, Inc.;Bloom, Gettis, Habib, Silver & Terrone, P.A.; Oppenheimer &Co. Inc.; Ocean Bank; SeaDream Yacht Club, Terremark Worldwide andSpanish Broadcasting Systems Inc.

Key Realty Advisors, under the ownership of Eduardo Avilahandles development, conversion, sales and marketing for commercialand residential property in Florida. Current projects include 107Office Park in Kendall, Pine Island Office Centre in FortLauderdale and Villagio at Deerwood, a 440-unit condominium projectin Jacksonville.