Redfearn Capital and TPG Angelo Gordon have acquired two warehouses in Miami-Dade County for a combined $36.7 million, according to public records and the real estate database Vizzda. The sellers were affiliates of DWS Group, also known as RREEF America Property Trust, led by Stefan Hoops.
The first property, located at 5255 Northwest 159th Street in Miami Gardens, was purchased for $27.8 million. The warehouse spans 182,919 square feet, equating to a price of $152 per square foot. DWS previously bought the site for $12.3 million in 2018. The facility was completed in 1974 and its main tenant is Mac Papers + Packaging.
In the second transaction, Redfearn Capital and TPG Angelo Gordon paid $8.9 million for a 50,000-square-foot warehouse at 5959 Northwest 35th Avenue near Hialeah. This deal values the building at $177 per square foot. DWS acquired this property for $3.9 million in 2018. Built between 1961 and 1964, it is leased to C Air Brokers & Forwarders.
The purchases are part of an ongoing partnership between Redfearn Capital and TPG Angelo Gordon focused on South Florida industrial assets. In August, they jointly acquired an industrial complex consisting of four warehouses in Miramar for $33.4 million.
DWS has been active in the region’s commercial real estate market 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 from Chicago. In July, DWS listed The Alhambra office complex in Coral Gables with a target price of $125 million and purchased a self-storage facility in Tamarac for $19.6 million.
