Highline Real Estate Capital Acquires Property In Doral For $73M From PGIM Real Estate

A three-building Class A office campus located at 8400 NW 33rd St, Miami, FL, 33122, in the Doral market has been sold for $73,000,000.00. The property spans 372,639 square feet and is LEED Silver certified. Developed by Codina Partners, the buildings were completed between 1996 and 2001 and are situated on 21.4 acres.

Summary of transaction details:

• Property Type: Office Campus
• Transaction Amount: $73,000,000.00
• Seller: PGIM Real Estate
• Buyer: Highline Real Estate Capital
• Seller's Representatives: José Lobón (CBRE), Marcos Minaya (CBRE), Andrew Chilgren (CBRE), Christian "Chris" Lee (CBRE)
• Financing Arranger: Amy Julien
• Leasing Agents: Steven Hurwitz (JLL), Doug Okun (JLL)
• Property Management: SQUARE2 Management

The transaction involved the combined efforts of a joint venture that includes Ascentris, Highline Real Estate Capital, and SQUARE2 Capital. The CBRE Capital Markets team was instrumental in representing PGIM Real Estate during the sale. The new owners plan to enhance the campus with upgrades to buildings and outdoor areas, in addition to improving lobbies, common spaces, and restrooms.