Redfearn Capital and TPG Angelo Gordon have partnered to acquire two industrial warehouses in Miami-Dade County for a combined $36.7 million, according to public records and data from Vizzda.
The purchases were made through entities linked to Delray Beach-based Redfearn Capital, led by Alex Redfearn, and TPG Angelo Gordon, headed by Josh Baumgarten and Adam Schwartz. The sellers were affiliates of DWS Group, also known as RREEF America Property Trust, which is led by Stefan Hoops.
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 equates to $152 per square foot. DWS originally acquired this property in 2018 for $12.3 million. The facility was completed in 1974 and its main tenant is Mac Papers + Packaging.
The second acquisition involved a 50,000-square-foot warehouse at 5959 Northwest 35th Avenue near Hialeah for $8.9 million or $177 per square foot. DWS had previously purchased this property in 2018 for $3.9 million. Built between 1961 and 1964, it is currently leased to C Air Brokers & Forwarders.
This deal continues a pattern of collaboration between Redfearn Capital and TPG Angelo Gordon in South Florida’s industrial real estate market; most recently in August they jointly acquired an industrial complex with four warehouses in Miramar for $33.4 million.
DWS Group has been active on both sides of recent transactions within the region’s commercial real estate sector. In February, it sold Las Olas Centre I & II—an office complex in Fort Lauderdale—for $208 million to Bradford Allen Investment Advisors based out of Chicago. In July, DWS listed The Alhambra office complex in Coral Gables with an asking price of $125 million and also purchased a self-storage facility in Tamarac that month for $19.6 million.
