- JZ Capital Partners has expanded its property portfolio in Miami by making three new acquisitions alongside its long-term real estate partner, RedSky Capital.

JZCP and RedSky acquired 2621 NW 2nd Avenue located in Miami's Wynwood neighbourhood and 1 NE 40th Street and 35 NE 40th Street, two properties located in the Design District neighbourhood of Miami, Florida.

The Miami Design District is a neighbourhood with innovative fashion, design, architecture and high-end dining experiences, attracting some of the world's most prestigious brands and retailers.

These three properties follow JZCP's first investment in Miami's Wynwood neighbourhood, 2407 NW 2nd Avenue, which closed in January 2015. On a combined basis, the current Miami portfolio offers a total of 66,100 sq. ft. of prime retail and office rental with an additional 265,350 buildable sq. ft. providing future flexibility to develop a mix of luxury retail, high-end office, residential, or hotel space.

The portfolio features 260 ft. of frontage on NE 40th Street and 210 ft. of frontage on NW 2nd Avenue, each the premiere retail corridor in its respective neighbourhood.

The combined purchase price for the four properties was $97.4m, of which JZCP provided $42.9m.

At 9:13am:

[LON:JZCC] share price was +0.01p at 11.13p

[LON:JZCN] Jz Capital Partners Ltd share price was -0.5p at 356.13p

[LON:JZCP] JZ Capital Partners Ltd share price was 0p at 413.5p

Story provided by