FCA Group (now incorporated in Elandis) has acquired a highly prestigious building located at 1500 Ponce de Leon Boulevard in Coral Gables, one of Miami’s prime business addresses. FCA will occupy the entire building, which will become its new headquarters for North and Central America. The all-cash deal closed in April 2012.

Built in 2003 as a major Floridian bank branch and occupying 110 feet of frontage on one of Coral Gables’ main arteries, the property has a colonial design. It comprises 6,000 square feet of interior space on two floors, a drive-through layout and 26 parking spots. FCA plans a complete and faithful refurbishment program in excess of $1m before moving in.

“This is a very impressive building in one of the most desirable areas of Miami,” comments Frank Espinosa, CEO of FCA Group. “We are proud of the transaction because it underlines our commitment to Florida and it is a critical component of our strategy to further build our US platfom. This investment also demonstrates the Libra Group’s consistent long term commitment to its major geographies such as Miami, New York, London, Buenos Aires and Beijing, among others.”

FCA Group (now incorporated to Elandis) has officially opened in Miami, taking possession of the Latitude One office suite 2004 which it acquired in March of this year. The new office is strategically located to pursue the significant investment opportunity in southern USA, particularly within the residential real estate sector. FCA Group is also relocating its corporate headquarters from Panama to Miami. The move is part of the wider strategy to grow its presence in Florida and the US at large, along with several new key hires of a locally based CFO, group accountant, group property manager, receptionist and legal counsel.

“This new office places us in Florida which is a focus region for property investment, along with nearby states such as Nevada, Arizona and Texas,” comments Frank Espinosa, FCA Group CEO . “It also brings us geographically closer to our parent company, The Libra Group, based in New York.”