OWENS REALTY CAPITAL AND GALIUM CAPITAL SELL SEACOAST BANKING CENTER FOR $30.3 MILLION

West Palm Beach, FL – [December 12, 2024] – Owens Realty Capital, a subsidiary of Owens Realty Services, in partnership with Miami-based Galium Capital, is pleased to announce the sale of the Seacoast Banking Center, located at 3001 PGA Boulevard in Palm Beach Gardens, Florida. The off-market transaction, completed with an affiliate of Andiamo Capital, closed at a sale price of $30,300,000.

The Seacoast Banking Center, a 66,864-square-foot office building, was originally acquired by Owens Realty Capital and Galium Capital in 2018 for $25,100,000. At the time of sale, the property was fully leased, demonstrating the strength of its location and the effective management strategies employed by the joint venture.

Bob Owens, CEO of Owens Realty Capital, remarked on the success of the transaction: “We have always focused on buying the best-located assets in markets we believe have very strong growth fundamentals, and that certainly was the case with 3001 PGA.”

This sale highlights Owens Realty Capital’s and Galium Capital’s commitment to identifying, acquiring, and managing high-quality assets in dynamic markets, delivering significant value for stakeholders.

Palm Beach Gardens, Florida, is recognized as one of South Florida’s premier business hubs, offering a blend of economic vitality and exceptional quality of life. Known for its robust commercial real estate market, the city attracts investors with its strategic location, affluent demographic, and strong employment base. The area’s commitment to growth and development continues to make it a sought-after destination for businesses and residents alike.

For additional information, please contact Palmer Vietor, Vice President at PVietor@owensrealtyservices.com.