Orlando commercial real estate investment firm adds to its portfolio

Eola Capital won the bid for the St. Joe Co.'s southeastern U.S. office holdings and closed on the properties in July. Eola is paying $225 million for the 1.8 million-square-foot St. Joe portfolio, which includes 15 office buildings in Orlando, Jacksonville, Tallahassee, Panama City, Atlanta, and Richmond and Norfolk, Va. As part of the deal Eola Capital gains such notable local holdings as Millenia Park One, Southhall Center in Maitland and One Orlando Centre. This brings the firm's local holdings to 670,000 square feet. Eola's portfolio now will total $1.5 billion in assets composed of 9.5 million square feet. In addition, they will continue to look for more properties in other markets, such as Maryland, Texas, Arizona, Colorado and Washington, D.C