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TerraCap Management sells Sarasota, Fla., office complex for $45.2M

TerraCap Management LLC sold the 246,941-square-foot Gateway Professional Centre office complex in Sarasota, Fla., for $45.2 million, Business Observer reported.

The property at 301-551 N. Cattlemen Road near Interstate 75 was sold to Boston-based Taurus Investment Holdings.

At the time of the sale, Gateway Professional was 95.1% committed to Taylor Morrison, London Bay Homes, Jackson Hewitt and Global Financial Private Capital, among others.

TerraCap paid $37.1 million for the 35-acre property in May 2015, the Sept. 20 report added.