(Miami, FL – December 15, 2017) Midtown Capital Partners LLC, a Miami-based real estate investment and asset management firm with over $350 million under management, announces that the company has acquired, through its affiliate Pembroke Pointe Office LLC, a recently constructed 143,535 square foot Class-A office building in Pembroke Pines, Florida for a purchase price of $42 million.

The Property is located between Interstate 75 and SW 145th Avenue, just south of Pines Boulevard, over a 10.98 acre lot. A four-story building (“Pembroke Pointe 880”) features a highly functional multi-tenant design and an above-market parking ratio of 5.5 per 1,000 rentable square foot, in a town center, amenity-rich environment. Pembroke Pointe 880 is the only suburban office building in Southwest Broward County walkable to destination retail and dining via The Shops at Pembroke Gardens, a 400,000 SF upscale lifestyle center, providing a tremendous strategical advantage over its competitive set.

The proof statement for the desirability of Pembroke Pointe 880 lies in its ability to quickly attract many name brand tenants such as Elizabeth Arden, DeVry Education Group, Costa Cruises, and online retailer Boxy Charm, in addition to subsidiaries for large multinational companies. Midtown Capital Partners expects to capitalize on the strong South Broward office market to bring this building to full occupancy in the near future.

This acquisition marks the second office building acquisition this year, after successfully closing on the purchase of 2 office buildings in Plantation for $56 million in August.

Midtown Capital Partners has deployed over $130 million in south Florida over the past 12 months, acquiring both office and retail, institutional-quality assets.

The Cushman & Wakefield Capital Markets team represented Duke Realty in the disposition, Midtown Capital Partners was advised in house. A $22.7 million mortgage was obtained from a national life insurance company.

About Midtown Capital Partners

The company is a real estate investment and asset management firm based in Miami, Florida, 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 $350 million dollars in income-generating properties.

About Duke Realty

The South Florida office of Duke Realty owns and operates 6.4 million square feet of industrial and office properties. On a nationwide basis, Duke Realty Corporation owns
and operates approximately 144 million rentable square feet of bulk distribution real estate in 21 major U.S. metropolitan areas. Duke Realty is publicly traded on the NYSE under the symbol DRE and is listed on the S&P 500 Index. The company maintains a Baa1 rating from Moody’s Investor Service and a BBB+ rating from Standard & Poor’s Financial Services.