Amancio Ortega's Ponte Gadea Acquires Retail Complex In Miami From David Edelstein And RFR Holding For $110M

The retail asset located at 135, 137 Northeast 39th Street, 114 & 126 Northeast 40th Street is under contract for a total of $110,000,000. This fully leased retail complex spans 20,000 square feet and boasts notable tenants including Rolex, Oliver Peoples, and Michael’s Genuine. The property is situated in the Miami market.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $110,000,000
• Buyer: Amancio Ortega - Ponte Gadea
• Seller: David Edelstein - Tricap; Aby Rosen & Michael Fuchs - RFR Holding; Henning Koch - Commerz Real AG
• Brokers: Adam Spies, Marcella Fasulo , Adam Doneger & Eric Williams - Newmark

The transaction includes participation from Amancio Ortega’s family office, Pontegadea, which is acquiring the property from a collaboration of sellers consisting of Tricap, RFR Holding, and Commerz Real AG. Newmark is overseeing the brokerage of the deal, which attracted additional bids from Craig Robins and Uniqlo’s parent company, Fast Retailing.