Mercantil Commercebank Purchases 220 Alhambra Building In Coral Gables

The prominent building has served as its headquarters for almost 17 years

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Oct 31, 2014, 12:07 ET

CORAL GABLES, Fla., Oct. 31, 2014 /PRNewswire/ -- Mercantil Commercebank, one of the largest banks headquartered in Florida, today announced that its wholly-owned subsidiary, 220 Alhambra Properties LLC, purchased the 220 Alhambra building, which the bank has occupied as its headquarters for almost 17 years.

The landmark 175,000 square foot, class 'A' office building was built in 1997 and is located at the intersection of Ponce de Leon Boulevard and Alhambra Circle, one of the most attractive commercial locations in Downtown Coral Gables. The bank presently occupies approximately 44% of the building and plans to lease the space it will not need for its continued growth.

"The purchase of this building, which has served as our base for many years, is an affirmation of our commitment to South Florida," said Millar Wilson, Vice-Chairman and CEO of Mercantil Commercebank. "As we celebrate the 35^th anniversary of serving our diverse client base and multicultural community, it is fitting that we make this investment in Coral Gables, a city that is headquarters to more than 140 multinational corporations and has been our home for almost 30 years."

About Mercantil Commercebank
Mercantil Commercebank N.A. is one of the largest banks in South Florida serving its community for 35 years. Mercantil Servicios Financieros (MSF), a Venezuelan company, beneficially owns the Bank through U.S. bank holding companies. MSF is the largest provider of financial services in Venezuela with more than 85 years of experience. Mercantil Commercebank has assets of $7.8 billion. The Bank is headquartered in Coral Gables, Florida and has 21 Banking Centers - 15 located in South Florida; five in Houston, Texas; and one in Manhattan, New York. The Bank offers a wide variety of domestic, international, personal and commercial banking services, including investment, trust, and estate planning through its subsidiaries, Mercantil Commercebank Investment Services, Inc. and Mercantil Commercebank Trust Company, N.A. For more information, please visit www.mercantilcb.com.

SOURCE Mercantil Commercebank