Printer-friendly version MIAMI, FL - July 29, 2014 – HFF announced today the closing of the sale and concurrent financing of Dadeland Square, a mixed-use retail and office center in Miami, Florida.
HFF marketed the property on behalf of The Green Companies, a Miami-based real estate company. COFE ZM Dadeland LLC purchased Dadeland Square and hired HFF to arrange financing through JP Morgan Chase & Co.
Dadeland Square is located at 7700 North Kendall Drive in Miami, Florida. The property is situated within the most densely-developed area south of Downtown Miami and is near the Simon-owned Dadeland Mall. Dadeland Square is a mixed-use retail and office center totaling 214,357 square feet that is 95 percent leased and anchored by TJ Maxx, HomeGoods, Jo-Ann Fabric and Craft and Guitar Center.
The HFF investment sales team representing the seller was led by managing director Luis Castillo, senior managing director Danny Finkle and director Ike Ojala.
“Dadeland Square was a highly sought-after opportunity and reflects investors’ desire to acquire well-located assets backed by strong retailer and office tenant performance,” Castillo said.
HFF’s debt placement team representing the buyer was led by senior managing director Paul Stasaitis and senior analyst Nat Scarmazzi.
“The Dadeland Square asset, coupled with highly regarded sponsorship, yielded outstanding finance terms and lender interest,” Stasaitis added. “Driven by strong residential demand, the Dadeland submarket’s retail and office sectors only stand to benefit further from already-impressive rental and occupancy levels.”
HFF’s investment sales team secured more than $553 million in sales of retail assets nationally during the first quarter of 2014. In Florida, HFF closed more than $134 million in retail transactions across all capital markets platforms during the same period.
The Green Companies is one of Miami's oldest family-owned firms, specializing in real estate development, acquisition, and property management. Since 1948, The Green Companies have constructed thousands of homes, condominiums, rental apartments and planned residential communities. The firm is also responsible for more than two million square feet of office and mixed-use development in South Florida.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter at twitter.com/hff.