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| 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 | www.hfflp.com
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