M2E client Oscar Rivera of Siegfried, Rivera et al. of Coral Gables represented building owner Joseph Kracuer in the $75 million sale for the headquarters building of Mercantil Commercebank. The bank had occupied the space for over 16 years now and after three years of unsuccessful attempts by the bank alone, it was finally sold with the help of Jack Lowell of PointeGroup Advisors and Wayne Schuchts of Avison Young. The owner had emotional attachments to the building and was therefore not for sale. There was much discrepancy over the value of the building rather than how the building was to be structured. However, after a short yet difficult deliberation, the transaction for 220 Alhambra Circle went through.
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