JZ CAPITAL PARTNERS ACQUIRES THREE NEW PROPERTIES IN MIAMI, FLORIDA
1 April 2015
JZ Capital Partners Limited (LSE:JZCP.L or "JZCP"), the London listed private
equity fund that invests in high quality US and European microcap companies and
US real estate, has expanded its real estate portfolio in Miami, Florida by
making three new acquisitions alongside its long-term real estate partner,
RedSky Capital, LLC ("RedSky").
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 $97.4 million, of which
JZCP provided $42.9 million.
David Zalaznick, JZCP's Founder and Investment Adviser, commented: "The Design
District of Miami is being transformed into a world-class shopping and cultural
destination. We are excited to be invested in this fast growing market.
This announcement marks our fourth acquisition in the Miami property market
since the beginning of the year - a key market as we strive to build a balanced
portfolio of real estate assets that provide our shareholders with superior,
long-term returns."
Ends
For further information:
Ed Berry / Kit Dunford +44 (0) 20 3727 1143
FTI Consulting
David Zalaznick +1 212 485 9410
Jordan/Zalaznick Advisers, Inc.
Andrew Maiden +44 (0) 1481 745368
JZ Capital Partners
About JZCP
JZCP is a London listed private equity fund which invests in high quality
microcap companies, real estate and other debt and equity opportunities
globally but with a particular focus on opportunities in the US and Europe. Its
corporate objective is to create a portfolio of investments providing a
superior overall return comprised of a current yield and significant capital
appreciation. JZCP receives investment advice from Jordan/Zalaznick Advisers,
Inc. ("JZAI") which is led by David Zalaznick and Jay Jordan. They have worked
together for 30 years and are supported by teams of investment professionals in
New York, Chicago, London and Madrid. JZAI's experts work with the existing
management of microcap companies to help build better businesses, create value
and deliver strong returns for investors. JZCP, with the advice of JZAI,
targets predominantly private investments, seeking to back exceptional
management teams to deliver on attractive investment propositions. For more
information please visit www.jzcp.com.
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.