Jackie Soffer Of Turnberry Associates And David Simon Of Simon Property Group Acquire Retail Asset For $131M

The property asset involved in the transaction is located at 19505 Biscayne Boulevard in Aventura. This retail asset has a total square footage of 219,000 and was sold for $131,000,000, equating to a price per square foot of $598.

Summary of transation details:

• Property Type: Retail
• Transaction Amount: $131,000,000
• Address: 19505 Biscayne Boulevard
• Market: Aventura
• Square Footage: 219,000
• Price Per Square Foot: $598
• Buyer: Jackie Soffer - Turnberry Associates
• Buyer: David Simon - Simon Property Group
• Seller: Adam Metz - Seritage Growth Properties

Jackie Soffer and David Simon, the buyers, represent Turnberry Associates and Simon Property Group, respectively. They are planning to rebrand the asset as The Abbey at Aventura, enhancing Turnberry’s significant 3.2 million-square-foot footprint in the Aventura area. Adam Metz is the seller, representing Seritage Growth Properties in this transaction.