Saturday, August 9, 2014

HFF closes the $38.9 million sale of Downtown Dadeland in Miami, FL

Daniel Finkle
MIAMI, FL – HFF announced  the closing of the $38.9 million sale of Downtown Dadeland, a 127,240-square-foot retail lifestyle center in Miami.

               HFF marketed the property on behalf of the seller, Downtown Dadeland Retail, LLC.  A joint venture between Duncan Hillsley Capital and Pebb Capital purchased the unencumbered property for $38.9 million.

               Downtown Dadeland is located on 7.5 acres in the epicenter of the Dadeland “Triangle,” an urban infill location bounded by three of Miami’s most heavily trafficked thoroughfares and directly across from the Dadeland Mall.  The property was completed between 2007 and 2009 and includes tenants such as West Elm, HCA Medical, Chili’s Bar & Grill, Paul Mitchell Academy, Men’s Wearhouse and Panera Bread. 

               The HFF team representing the seller was led by managing director Luis Castillo, senior managing director Daniel Finkle and senior analyst Nat Scarmazzi.

Luis Castillo
“The opportunity to acquire an urban Miami retail lifestyle center with significant value enhancement potential drove incredibly strong investor interest for Downtown Dadeland,” Castillo said.  “The new owner is an experienced operator and will enjoy tremendous growth in NOI and value as the property continues to stabilize.”

Duncan Hillsley Capital LLC (DHC) is a fully integrated, private commercial real estate investment company based in Boca Raton, Florida. 

  DHC was formed in January 2009 to capitalize on the dislocation of the commercial real estate market by acquiring distressed and underperforming assets as well as assisting other investors in restructuring and recapitalizing their portfolios.

Pebb Capital is a wholly owned real estate private equity firm based in Boca Raton, Florida.  Formed in 2014 by Todd and Jeff Rosenberg, Pebb Capital has a dedicated capital allocation and uses its 40 year real estate investment, development and management experience to deploy that capital with high quality operating partners in all types of real estate asset classes throughout the country under a variety of joint venture structures. 

Nat Scarmazzi
HFF’s investment sales team secured more than $1.68 billion in sales of retail assets nationally through the end of the second quarters of 2014.  In Florida, HFF closed more than $539 million in retail transactions across all capital markets platforms during the same period.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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