AEW Capital Management Acquires Retail Property In Miami For $108M

The retail property located at 1700-1970 Northwest 117th Place in Miami has been sold for a transaction amount of $108,000,000. The property spans across 33.8 acres and offers a total area of 417,248 square feet. The price per square foot comes to $259, highlighting the value of the asset. The sale was completed on 12/20/2021.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $108,000,000
• Address: 1700-1970 Northwest 117th Place, Miami
• Market: Miami
• Acres: 33.8

The buyer in this transaction is AEW Capital Management, represented by Jeff Furber and Jonathan Martin. On the other side, Stiles and Lubert-Adler Real Estate Funds, represented by Kenneth Stiles, Dean Adler, and Ira Lubert, acted as the sellers. The deal was facilitated by brokers Danny Finkle and Alex Sharrin from JLL. They played a crucial role in connecting the buyer and seller and ensuring a successful transaction.

PGIM Real Estate Finance served as the lender for this sale, providing the necessary financial support. The mortgage brokerage was handled by Paul Stasaitis from JLL, ensuring a smooth and efficient process.

With a focus on providing accurate and essential information, this article offers a detailed account of the property sale at 1700-1970 Northwest 117th Place in Miami. The transaction involved key players in the industry and exemplified the value of the retail property in the market.