The acquisition brings CP Group’s total Downtown Miami holdings to over 2 million square feet, including SunTrust International Center and Citigroup Center, formerly known as Miami Center.

CP Group, which until recently was called Crocker Partners, along with funds managed by Rialto Capital Management and Sabal Capital Partners, bought the high-rise at 2 South Biscayne Boulevard, according to a news release.

CP Group has formed a joint venture with funds managed by Rialto Capital Management and Sabal Capital Partners to buy the 38-story One Biscayne Tower for $225 million.

Monarch plans to operate the property in partnership with Tourmaline Capital Partners, a real estate investment and operations firm focused on the office sector, and CP Group (formerly Crocker Partners), the largest office landlord in Florida.

CP Group recently completed a $20 million renovation at the property, including the addition of a 9,000-square-foot conference center and redesigned lobby.

“It really wasn’t about the beer tap or events that made coworking take off,” Chris Eachus said. “It was because you can sign a 30-day lease in a nice environment that looks professional, and you can come in every day and be happy with where you work.”

A joint venture involving Boca Raton, Florida-based real estate investment company CP Group and San Francisco-based investment firm Farallon Capital Management has acquired a three-property Atlanta office portfolio from Franklin Street Properties Corp., CP Group announced this week.

CP Group, formerly Crocker Partners, today announced the acquisition of a three-building portfolio from Franklin Street Properties Corp. in a joint venture with Farallon Capital Management (“Farallon”). The acquisition includes One and Two Ravinia Drive in Atlanta’s Central Perimeter submarket, and One Overton Park in its Cumberland submarket. The acquisition brings CP Group’s Metro Atlanta office assets under management to approximately 4 million square feet, making them the third-largest office landlord in the region.

The joint-venture partnership of CP Group, formerly Crocker Partners, and Farallon Capital Management has acquired a three-property office portfolio in Atlanta from Franklin Street Properties Corp.