Redfearn Capital and TPG Angelo Gordon have acquired two warehouses in Miami-Dade County for a total of $36.7 million. The purchases were made through entities linked to Delray Beach-based Redfearn, headed by Alex Redfearn, and TPG Angelo Gordon, led by Josh Baumgarten and Adam Schwartz. The properties were bought from affiliates of DWS Group, also known as RREEF America Property Trust, which is led by Stefan Hoops.
The larger of the two deals involved a 182,919-square-foot warehouse located at 5255 Northwest 159th Street in Miami Gardens. Redfearn and TPG Angelo Gordon paid $27.8 million for the property, equating to $152 per square foot. The site covers 6.9 acres and was sold for more than double its previous sale price seven years ago; DWS had purchased it for $12.3 million in 2018. The facility was built in 1974 and is primarily leased to Mac Papers + Packaging.
In a separate transaction, the joint venture paid $8.9 million for a 50,000-square-foot warehouse at 5959 Northwest 35th Avenue near Hialeah—about $177 per square foot. This property sits on two acres and was previously acquired by DWS in 2018 for $3.9 million, meaning it sold this time for roughly $5 million above its last purchase price. Built between 1961 and 1964, the warehouse’s current tenant is C Air Brokers & Forwarders.
These acquisitions are part of an ongoing partnership between Redfearn Capital and TPG Angelo Gordon targeting industrial real estate in South Florida. In August, the same partnership spent $33.4 million on an industrial complex consisting of four warehouses in Miramar.
DWS Group has been active in the market recently as well. In February, DWS sold Las Olas Centre I & II—a two-building office complex in Fort Lauderdale—for $208 million to Bradford Allen Investment Advisors based in Chicago. In July, DWS put The Alhambra office complex in Coral Gables up for sale with a target price of $125 million and separately bought a self-storage facility in Tamarac for $19.6 million that same month.
