A $300 million deal for $150 million in commercial real estate in Florida was reported to be worth $400 million.
The deal was for a new building, but was later revealed to be a real estate deal involving two Florida companies.
The two companies were both acquired by the same Florida company, which was sold to a company called TCL Corporation, according to financial filings filed in Florida’s Hillsborough County District Court.
According to the documents, the $400-million deal was worth approximately $200 million.
While the two companies had the same owners, they were in different jurisdictions and different markets.
The Florida company had purchased the building and was now building an office building on the site, according the documents.
TCL was the owner of the building at the time.
The deals were not disclosed in the filings, but were widely reported by news outlets.
The report came just weeks after the Federal Reserve raised its benchmark interest rate from 2 percent to 4 percent and said it would not lift rates until the economy improves.