Citadel Office Building

Befeler Group, through an affiliate, acquired a five-story office building in the heart of Coconut Grove’s business district of in the City of Miami. The area represents the “old Miami” and enjoys a colorful history. The area has undergone an impressive renaissance through among other things the brand-new construction of the two 20-story twisted towers of the Grove at Grand Bay Condominium Towers - one block away - the high-end Ritz Carlton Hotel and Condominium – one block away – and the 20-story Park Grove Towers across the street. Many other luxury developments and improvements are within walking distance. The area has become one of the most upscale neighborhoods with highest demand for office and retail space in the country. The building also serves as the corporate headquarters for Befeler Group, and because of its fine location, it is consistently 100% leased and performing well.