Todd Rosenberg Of Pebb Capital Acquires Office Building In Miami Beach For $70 Million

The office asset acquired is located at 119 Washington Avenue in Miami Beach, FL. The sale was completed for a total consideration of $70,000,000. The property spans 97,500 square feet, translating to a price per square foot of $718. The building was reported to be 97% leased at the time of closing and includes plans for a 10,100-square-foot penthouse expansion.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $70,000,000
• Buyer: Todd Rosenberg - Pebb Capital
• Seller: Yantra 119
• Lender: Acore Capital
• Square Footage: 97,500
• Price Per Square Foot: $718

Todd Rosenberg represented Pebb Capital in the acquisition of the property. The asset was sold by Yantra 119, and the financing for the purchase was facilitated through a loan provided by Acore Capital. The deal highlights the ongoing activity within South Beach's boutique office market.