Redfearn Capital and TPG Angelo Gordon have acquired two industrial warehouses in Miami-Dade County for a combined total of $36.7 million, according to public records and real estate database Vizzda.
The purchase involved two separate transactions with affiliates of DWS Group, also known as RREEF America Property Trust. The Redfearn entities are led by Alex Redfearn, while TPG Angelo Gordon is led by Josh Baumgarten and Adam Schwartz. DWS Group is headed by Stefan Hoops.
In the first transaction, the joint venture paid $27.8 million for a 182,919-square-foot warehouse located at 5255 Northwest 159th Street in Miami Gardens. This equates to approximately $152 per square foot. The property sits on a 6.9-acre site and was previously purchased by DWS in 2018 for $12.3 million—less than half the current sale price. 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, purchased for $8.9 million or about $177 per square foot. DWS had bought this property in 2018 for $3.9 million; the recent sale price reflects an increase of roughly $5 million over seven years. Built between 1961 and 1964, this warehouse is leased to C Air Brokers & Forwarders.
This deal follows another collaboration between Redfearn Capital and TPG Angelo Gordon in August, when they acquired an industrial complex with four warehouses in Miramar for $33.4 million.
DWS has been active in South Florida’s commercial real estate market recently as both buyer and seller. In February, it 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 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 that same month.
