RealOp Investments Acquires Property At 6100 Blue Lagoon Dr Miami For $110.14M With Dominic Montazemi As Seller's Representative

The property asset involved in this transaction is a three-building office portfolio located at 6100, 6303, and 6505 Blue Lagoon Drive, Miami, FL, 33126. This portfolio, known as Waterford Atrium, encompasses a total of 498,073 square feet and was sold for $110,140,000. The buildings are part of the Waterford Business District, a professional hub designed for companies across various industries, featuring amenities such as a fitness center, three ground-floor cafes, 24-hour security, and three parking garages with a 4/1,000 square feet parking ratio.

Summary of transaction details:

• Property Type: Office Portfolio
• Transaction Amount: $110,140,000
• Address: 6100 Blue Lagoon Dr, Miami, FL, 33126
• Square Footage: 498,073
• Seller: MetLife Investment Management
• Seller's Representative: Dominic Montazemi - Cushman & Wakefield
• Buyer: RealOp Investments
• Acquisition Financing: Secured through KKR
• Broker Representatives: Mike Davis, Dominic Montazemi, Miguel Alcivar, Rick Brugge, Scott O’Donnell, and Rick Colon from Cushman & Wakefield
• Key Individuals: Rajib Das, Chief Investment Officer of RealOp; Reggie Bell, Chief Executive Officer of RealOp
• Occupancy History: 15 years at 90 to 95% occupancy
• Market: Miami

This transaction was facilitated by multiple representatives from Cushman & Wakefield who managed the sale for the seller MetLife Investment Management on behalf of its investment management clients. The buyer, RealOp Investments, received acquisition financing organized by a team from Cushman & Wakefield. The transaction reflects the increasing demand for office space in Miami, evidenced by the diverse mix of creditworthy tenants in the property and statements from executives emphasizing the market's growth potential in the region.