Redfearn Capital and TPG Angelo Gordon have partnered to acquire two industrial warehouses in Miami-Dade County for a combined total of $36.7 million, according to public records and the real estate database Vizzda.
The two properties were purchased from affiliates of DWS Group, also known as RREEF America Property Trust, which is led by Stefan Hoops. Redfearn Capital is based in Delray Beach and led by Alex Redfearn, while TPG Angelo Gordon is headed by Josh Baumgarten and Adam Schwartz.
In the larger of the two transactions, the joint venture paid $27.8 million for a 182,919-square-foot warehouse located at 5255 Northwest 159th Street in Miami Gardens. This price amounts to $152 per square foot. The facility sits on a 6.9-acre site and was last sold in 2018 for $12.3 million. Its main tenant is Mac Papers + Packaging.
The second purchase involved a 50,000-square-foot warehouse at 5959 Northwest 35th Avenue near Hialeah, acquired for $8.9 million or $177 per square foot. The property was previously bought by DWS in 2018 for $3.9 million and is currently leased to C Air Brokers & Forwarders.
These acquisitions continue a series of collaborations between Redfearn Capital and TPG Angelo Gordon in South Florida’s industrial sector. In August, they jointly acquired an industrial complex consisting of four warehouses in Miramar for $33.4 million.
DWS Group has been active in buying and selling commercial properties throughout South Florida this year. In February, it sold Las Olas Centre I & II—an office complex in Fort Lauderdale—for $208 million to Bradford Allen Investment Advisors of Chicago. In July, DWS listed The Alhambra office complex in Coral Gables with a target price of $125 million and also purchased a self-storage facility in Tamarac for $19.6 million.
