(Miami, FL – August 12, 2018) Midtown Capital Partners, a Miami-based real estate investment and asset management firm with over $450 million under management, has acquired through an affiliate the retail portion of Downtown Dadeland, a seven-acre mixed-use development across the street from Dadeland Mall, one of the highest grossing malls in South Florida.

Midtown Capital Partners paid $78.2 million for the 126,133 square feet of ground-floor retail space and more than 500 parking spaces, both underground and surface. The mixed-use property is prominently located on East Kendall Drive and is uniquely positioned to benefit from the completion of the Underline green corridor, facing the Metrorail and Dadeland South station, which stands to become one of the three hubs of this major project.

“We believe the current and projected residential and hotel development in the area, the proximity to the Baptist Hospital, direct access to three major roads, strong demographics, and affluent surrounding neighborhoods, will position Dadeland as one of the most vibrant communities in South Florida, and a strong alternative to downtown Miami. We envision for Downtown Dadeland to become an even more compelling lifestyle destination and social epicenter, curating a full spectrum of trendy and cool concepts, not usually available in the suburbs”.

Downtown Dadeland has attracted a mix of national and local tenants, both diverse and experiential, driving traffic throughout the day and the evening, from the 200,000SF of office space and the more than 4,500 residential units in the area. Tenants include West Elm, Chili’s Bar & Grill, Club Champion, Orange Theory Fitness, and The Brass Tap, among others; and a roaster of chef-driven restaurants already popular at other Miami locations such as Pubbelly Sushi, Harry’s, Indian cuisine revelation Ghee, Zuuk and Lime; and new or upcoming concepts such as Barley, farm-to-table The Brick, Italian restaurant Erba, etc.

Midtown Capital Partners has deployed over $230 million in south Florida over the past 18 months, acquiring both office and retail, institutional-quality assets.

Dennis Carson and Casey Rosen at CBRE’s National Retail Partners represented Duncan Hillsley Capital and PEBB Capital in the sale; Midtown Capital Partners was advised in house. Brad Williamson and Mitch Sinberg of Berkadia’s South Florida office arranged the $46.9 million loan from a life company. CREC will continue in charge of leasing at this property.

About Midtown Capital Partners

The company is a real estate investment and asset management firm based in Miami, Florida and Madrid, Spain, founded in 2010 by two principals combining almost four decades of real estate and investment portfolio experience in South Florida. Midtown Capital Partners manages more than $450 million dollars in income-generating properties.