St. Joe, led by chairman and CEO Peter Rummell, hired locallybased Eastdil Secured to sell the 2.3-million-sf office portfolioin January. In May, Eola Capitalstruck a deal with St. Joe to acquire the portfolio for $377.5million, as GlobeSt.com previously reported.

The properties sold are located in seven markets throughout theSoutheast. In addition to Parkwood Point, the properties sold werethe 132,250-sf 100 Windward Plaza, the 203,248-sf 300 WindwardPlaza, the 203,877-sf Deerfield Point I & II and the 129,232-sfWindward Pointe 200 in Alpharetta, GA; the 130,614-sf 280Interstate North, the 274,709-sf 5660 New Northside Dr. in Atlanta;the 34,304-sf Beckrich One, the 34,304-sf Beckrich Two and the30,196-sf Nextel Two Building in Panama City Beach, FL; the135,000-sf 245 Riverside in Jacksonville, FL; the 163,209-sfMillenia Park One in Orlando; the 128,677-sf Overlook I & II inRichmond, VA; the 163,102-sf Southhall Center in Maitland, FL; andthe 88,415-sf Southwood One in Tallahassee, FL. The sales werecompleted in three closings. Fifteen buildings with 1.8 million sfsold in the second quarter for $277.5 million. The sale of a singlebuilding with 225,000 sf closed for $56 million earlier in thethird quarter.

At the time the properties hit the market, St. Joe's chairmanand CEO Peter Rummell said, "With capitalization rates in officemarkets across the nation at or near record lows, we believe thatthis is the right time to be a seller. That fact combined with thecontinued abundant flow of capital into real estate from a widerange of investors presents a unique time to potentially sell theportfolio."