Montreal-based real estate investor Brasswater has shelled out $20 million for Elite Office Suites, a fully leased flex condo in Coconut Creek. The two-story building spans roughly 122,300 square feet at 5480 W. Hillsboro Boulevard, adding one more out-of-state player to South Florida's bustling commercial market this spring.
Brasswater's purchase of Elite Office Suites from Fields‑Realty was reported by CoStar, which lists the asset as a 122,300-square-foot flex property. That CoStar item notes the brokers on the deal: Encore Real Estate Investment Services' Marcel Sarkisian and Brandon Abdelnour for the buyer, and Levy Realty Advisors' Alan Levy and Lielle Sosa for the seller. The May 11, 2026 report classifies the sale as a fully leased investment.
Deal Sheets Flag Another Coconut Creek Buy
Deal sheets and property-record briefs published earlier this month show an entity tracing to Brasswater bought a two-story commercial condo at Coconut Park, 6806–6814 N. State Road 7, for roughly $20 million, according to Bisnow and regional deal sites. Those records indicate the related purchase included about $14 million in financing and was recorded in mid-April. The overlapping coverage suggests Brasswater has been steadily picking up stabilized assets in Coconut Creek and nearby Broward markets.
Why Investors Are Zeroing In On Suburban Broward Offices
Industry trackers say capital is still chasing suburban office and flex properties that are stabilized or anchored by medical and service tenants, a trend local coverage highlighted while digging into the Coconut Creek deals. Regional outlets pointed to lender support and price-per-square-foot math on the recent buys, details that underscore continued credit-market interest in cash-flowing suburban properties, per Traded. For buyers like Brasswater, those fundamentals can translate into hold-or-reposition opportunities in Broward County.
CoStar's May 11 report lays out the Elite Office Suites transaction, while earlier deal sheets and property records fill in parcel-level and financing details for the broader Coconut Creek activity. Readers who want to double-check deed or loan filings can look to public records and the deal briefs cited above for the April and May entries.
