Boca Raton Mixed-Use Campus Changes Hands
A local investor purchased the nearly 190,000-square foot property from Titan Realty Group.
Interface Properties has acquired Fountains Center, a 189,542-square-foot, mixed-use campus in Boca Raton, Fla. The office, medical and retail property sold for $40 million, according to the South Florida Business Journal.
The previous owner was Titan Realty Group, Yardi Matrix shows.
The buyer received a $31.75 million acquisition loan from City National Bank for the deal, part of which will be used to undertake a capital improvement program.
Fountains Center was originally developed in two phases in the 1980s. The seven-building campus, located at the intersection of Powerline Road and West Camino Real, is 95 percent occupied and includes undeveloped land approved for future development of a 21,000-square-foot office building.
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Previously, three separate CMBS loans totaling $99 million encumbered the property, Yardi Matrix reports. All of the loans were put on the service’s watch list in October 2025.
Tenants include CitiBank, Truist Bank, University of Miami Miller School of Medicine, Salt Academy, Traditions South and various independent healthcare providers, who occupy more than half of the space. The property features direct frontage along Powerline Road, one of Boca Raton’s main north-south arteries, and 748 parking spaces.
Berkadia Senior Managing Director Mitch Sinberg and Director Michael Basinski secured a five-year, fixed-rate loan on behalf of Interface Properties, a locally based private real estate investor specializing in value-add deals. RARE CRE Managing Partner Nelson Garcia represented the seller in the acquisition.
Metro Miami’s office market recovery
Miami’s office market enjoyed strong fundamentals in early 2026, according to a Yardi Matrix report. Vacancy across the metro rate fell to 12.5 percent at the end of March, considerably below the 17.8 percent national average and down 300 basis points year-over-year.
That vacancy rate is the lowest among the eight gateway markets, Yardi Matrix notes, even lower than Manhattan, which came in at 13.1 percent. The Miami market also posted the third-highest rent with a figure of $59.10 per square foot among the gateway markets, nearly double the national average.
Investors seem to have taken note. Transaction activity in the metro Miami office sector totaled $892 million in the first quarter of 2026, second only to Manhattan, which recorded $1.8 billion.
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