MIAMI, Jan. 13, 2026 –  JLL Capital Markets announced today that it has completed the sale and financing of The Alhambra, a two-building, Class A office complex in the heart of Coral Gables, Florida.

JLL represented the seller, DWS Group, in the sale of the property to a venture between Lone Star Funds, Square2 Capital and Highline Real Estate Capital. JLL also worked on behalf of the buyer to arrange an acquisition loan through Rialto Capital Management, LLC.

The Alhambra is a best-in-class office complex comprising two buildings – Alhambra Plaza, a 14-story tower with 232,135 square feet and Alhambra West, a seven-story boutique office building with 94,316 square feet. The 87%-leased property is home to a variety of tenants in the education, consulting, engineering, legal and finance industries. On-site amenities include a conference center, fitness center, multiple outdoor plaza spaces and a Starbucks. The property also shares a four-story parking garage with the adjacent Hyatt Regency Coral Gables.

Positioned at 2 Alhambra Plaza and 95 Merrick Way, The Alhambra is a short walk from the famed Miracle Mile, the retail hub of Coral Gables and Giralda Avenue, which is commonly known as “restaurant row”. The property’s central location in Coral Gables provides convenient access to Miami International Airport, Brickell and Downtown Miami, and is surrounded by executive housing in the affluent neighborhoods of Coral Gables and Coconut Grove.

JLL Capital Markets’ Investment Sales and Advisory team representing the seller was led by Hermen Rodriguez, Ike Ojala, Mathew McCormack, Blake Koletic and Hunter Smith.

JLL’s Debt Advisory team working on behalf of the buyer was led by Paul Stasaitis, Chris Drew and Michael Romero.

“South Florida has witnessed remarkable growth post-pandemic, particularly in markets like Coral Gables that has captured overflow demand from Miami’s CBD while at the same time establishing itself as a preferred location for regional, national and global businesses,” said Rodriguez. “The Alhambra generated a significant amount of investor interest due to the appeal of this market as well as the quality of the assets and their tenancy.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom. 

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 113,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com. 

DWS aspires to be one of the world's leading asset managers. Building on more than 60 years of experience, it has a reputation for excellence in Germany, Europe, the Americas and Asia. DWS is recognized by clients globally as a trusted source for integrated investment solutions, stability and innovation across a full spectrum of investment disciplines.

Lone Star is a leading investment firm advising funds that invest globally in private equity, credit and real estate. The firm has been successfully navigating complex situations for 30 years. The funds are experienced value investors that seek opportunities in situations that are in flux or complicated by specific structural or financial factors, regardless of the prevailing market environment. Our deep bench of senior leaders and expert deal professionals ensures a strong foundation for successful investments and strategic decision-making. Since the establishment of its first fund in 1995, Lone Star has organized 25 private equity funds with aggregate capital commitments totaling approximately $95 billion. For more information regarding Lone Star Funds, go to www.lonestarfunds.com.

Square2 Capital, led by Jay Caplin and Mike Manno, is a Miami-based, vertically integrated real estate investment firm specializing in office and mixed-use properties, with a strong focus on Florida’s major markets. With over 40 years of experience, its leadership brings deep industry expertise and a hands-on, strategic approach to every property. Square2 Capital believes in transformation—not just through repositioning assets but by creating environments where businesses and communities thrive. Its in-house team oversees every aspect of the investment lifecycle, from acquisitions and asset management to property management and construction oversight, ensuring seamless execution. By blending thoughtful design, operational excellence, and curated amenities, they turn properties into vibrant, engaging spaces that attract and retain top-tier tenants while enhancing the energy and appeal of the surrounding business districts. To learn more, please visit: www.s2c.com.

Highline Real Estate Capital, led by David Moret and Matt Papunen, is a South Florida-based real estate investment firm focused on value-add opportunities in all major asset classes throughout the Southeast United States. Highline’s principals have a 30-year track record investing in and operating through multiple real estate cycles in private investment and closed end fund vehicles. Highline specializes in solving complex problems, reimagining workplaces and creating distinctive environments that enhance productivity, enabling our customers to attract top talent, and deliver lasting value for both tenants and investors. With a hands-on approach and a deep understanding of our target markets, Highline seeks to transform office spaces into dynamic, high performance business destinations. For more on Highline Capital, please visit: www.highlinerecapital.com.