Moishe Mana Buys Fort Lauderdale Office Tower for $89 Million

The Miami developer paid 21% below the seller's 2016 purchase price and financed the 394,000-square-foot property with $66 million in debt.

By the Family Office Real Estate Daily Desk·Sunday, October 4, 2026·2 min read

Editorial summary of reporting byBisnow Our editorial standards →

The answer · checked against Bisnow

How much did Moishe Mana pay for the Fort Lauderdale office tower and what were the deal terms?

Moishe Mana paid $89 million for 110 Tower, a 394,000-square-foot, 30-story office building at 110 SE Sixth St. in Fort Lauderdale, according to property records provided by Vizzda. The price was 21% below the $112.9 million Gem Realty Capital paid for the property in 2016. Mana financed the acquisition with two loans totaling $66 million from City National Bank of Florida.

Key facts

Moishe Mana paid $89 million for 110 Tower, a 394,000-square-foot office building at 110 SE Sixth St. in Fort Lauderdale, according to property records provided by Vizzda.
The seller, Gem Realty Capital, paid $112.9 million for 110 Tower in 2016, making Mana's purchase price a significant discount to that prior acquisition cost.
Mana financed the Fort Lauderdale purchase with two loans totaling $66 million from City National Bank of Florida.
110 Tower is a 30-story building constructed in 1987 and renovated in 2015, with up to 9,280 square feet available for lease according to a Colliers listing.
The Fort Lauderdale acquisition marks Mana's first venture into Broward County; he is Downtown Miami's largest landowner with more than 80 buildings to his name.
The 110 Tower deal closed based on property records provided by Vizzda, as reported by Bisnow's South Florida Deal Sheet.

Moishe Mana Buys Fort Lauderdale Office Tower for $89 Million — Image: editorial illustration · Story sourced from Bisnow

Moishe Mana paid $89 million for a 394,000-square-foot office tower in Fort Lauderdale, marking his first acquisition in Broward County, according to property records provided by Vizzda. The seller, Gem Realty Capital, absorbed a sharp loss on the sale, having purchased the property for $112.9 million in 2016.

Mana financed the transaction with two loans totaling $66 million from City National Bank of Florida. The 30-story building at 110 Southeast Sixth Street was constructed in 1987 and renovated in 2015. The property, known as 110 Tower, has up to 9,280 square feet available for lease, according to a Colliers listing.

The purchase represents a new market for Mana, who is Downtown Miami's largest landowner with more than 80 buildings. The Fort Lauderdale tower is 39 years old and represents a bet on an older asset class in a market adjacent to his Miami holdings.

Separately, an entity managed by Edward Leevan and tied to billionaire Jeff Greene sold the Tideline Palm Beach Ocean Resort and Spa to Fort Partners for $112.6 million in property records, though Greene told the South Florida Business Journal the full price was $150 million including property branding, fixtures and furniture. Fort Partners completed the deal with $108 million in debt, of which $53 million was assumed from the seller and $55 million was new financing from Madison Realty Capital.

The 134-key resort at 2842 South Ocean Boulevard totals 99,000 square feet and was built in 1980. Greene poured $20 million into renovating the property in 2023. Greene told the South Florida Business Journal that attracting visitors to the south end of Palm Beach had been a challenge. "If you can make money and get rid of a headache at the same time, it's the best of both worlds," Greene said.

Thor Equities, led by CEO Joseph Sitt, purchased a Boca Raton office tower for $62 million from an affiliate of CP Group, according to property records. The 153,000-square-foot Two Town Center at 5355 Town Center Road is an 11-story building constructed in 1986 and includes a 114,000-square-foot two-story parking garage. Up to 24,000 square feet is available in the building, according to a TCRE listing on LoopNet.

Stewards Inc., formerly Favo Capital Inc., acquired the 214-unit Envy Pompano Beach apartment building in a deal valued at $90 million, according to a release. The transaction included $42.7 million of rollover equity, represented by 14 million restricted shares of Stewards common stock negotiated at $3 per share, and a $47.7 million property-level loan from LoanCore Capital Credit REIT. Envy, which was 89% occupied at the time of the announcement, was built in 2020 and includes a 26-slip marina, 5,575 square feet of retail available for lease, and a three-story community center. The original managers were Invesca Development Group's Michael Hsiao and Bernard Hsiao.

The Deployment Angle

Family Office Real Estate Daily Desk · our analysis, not the source's

The Mana transaction prices a 394,000-square-foot office asset at $226 per square foot with 74% leverage, a structure that implies modest cash-on-equity returns unless the renovation and Fort Lauderdale's rent trajectory can narrow the gap to replacement cost. Family offices considering similar vintage office plays should underwrite exit pricing at a similar or steeper discount to prior-cycle peaks, particularly for properties built before 1990.

The Thor Equities purchase in Boca Raton carries less disclosed leverage but targets an asset of comparable vintage, suggesting institutional buyers are willing to take occupancy risk in exchange for absolute price reduction. A co-GP structure alongside a sponsor with local leasing relationships would mitigate single-asset concentration, but any family office evaluating a similar opportunity should model tenant rollover at current market rents and stress-test the parking component as a separate revenue line.

The Envy Pompano Beach deal demonstrates an alternative route: acquiring stabilised multifamily through an UPREIT-style rollover that defers seller tax and locks in occupancy above 85%. The $47.7 million loan represents 53% loan-to-value on a $90 million basis, leaving $42.3 million of equity split between the rollover shares and any cash contribution. Family offices with appetite for programmatic multifamily exposure should ask whether a separate account with LoanCore or a similar construction lender offers better risk-adjusted returns than taking illiquid equity in a pre-IPO vehicle priced at a contractual $3 per share.

Avoid any direct investment in properties facing foreclosure or contractor payment disputes unless the family office has construction expertise in-house. The Metro Parc South default in Hialeah, with $31.1 million owed on a $105 million loan and unpaid contractor bills forcing the lender to advance $2 million, illustrates the speed at which construction risk can consume equity in a rising-rate environment.

Questions this story answers

01How much did Moishe Mana pay for the Fort Lauderdale office tower and what was the discount to the prior sale?

Moishe Mana paid $89 million for 110 Tower at 110 SE Sixth St. in Fort Lauderdale. The seller, Gem Realty Capital, had purchased the property for $112.9 million in 2016, meaning Mana acquired it at a roughly 21% discount to that prior purchase price, according to property records provided by Vizzda.

02How did Moishe Mana finance the Fort Lauderdale office tower purchase?

Moishe Mana financed the $89 million acquisition of 110 Tower with two loans totaling $66 million from City National Bank of Florida, according to property records provided by Vizzda.

03What are the key physical details of 110 Tower in Fort Lauderdale?

110 Tower at 110 SE Sixth St. in Fort Lauderdale is a 30-story, 394,000-square-foot office building built in 1987 and renovated in 2015. According to a Colliers listing, the tower has up to 9,280 square feet available for lease.

04Is the Fort Lauderdale office tower Moishe Mana's first investment outside Miami?

According to the source, the 110 Tower acquisition marks Mana's first venture into Broward County and Fort Lauderdale. Mana is Downtown Miami's largest landowner, with more than 80 buildings to his name in that market.

05Who sold the Fort Lauderdale office tower to Moishe Mana?

Gem Realty Capital sold 110 Tower in Fort Lauderdale to Moishe Mana for $89 million. Gem Realty Capital had originally purchased the property in 2016 for $112.9 million, according to property records provided by Vizzda.

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