JZ Capital Partners Ltd
JZCP ACQUIRES PRIME DEVELOPMENT SITE IN WYNWOOD, MIAMI
20 September 2016
JZ Capital Partners Limited (LSE:JZCP.L or “JZCP”), the London listed fund that invests in US and European micro-cap companies and US real estate, alongside its long-term real estate partner, RedSky Capital, LLC (“RedSky”), has acquired 2700 NW 2nd Avenue, a new property in the Wynwood neighbourhood of Miami, Florida.
The purchase price was $30.8 million, of which JZCP provided $12.9 million.
JZCP and RedSky plan to develop two Class-A buildings with ground floor retail, several floors of office space and below grade parking.
This property adds to JZCP’s previous investments in Miami’s Wynwood neighbourhood: 2407 NW 2nd Avenue and 2621 NW 2nd Avenue (which closed in the first quarter of 2015); 2501 NW 5th Avenue (which closed in the second quarter of 2015); 222-234 NW 24th Street (which closed in the fourth quarter of 2015); and 2200 NW 1st Avenue (which closed in the first quarter of 2016).
David Zalaznick, JZCP’s Founder and Investment Adviser, commented: “This asset is a unique opportunity to purchase one of the last premier development sites in prime Wynwood, and we are delighted to add this property to our growing real estate portfolio in South Florida.”
For further information:
|Ed Berry / Kit Dunford||+44 (0) 20 3727 1143|
|David Zalaznick||+1 212 485 9410|
|Jordan/Zalaznick Advisers, Inc.|
|Paul Le Ray||+44 (0) 1481 745815|
|JZ Capital Partners|
JZCP is a London listed fund which invests in US and European micro-cap companies and US real estate. Its objective is to achieve an overall return comprised of a current yield and 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 micro-cap companies to help build better businesses, create value and deliver strong returns for investors. JZCP also invests in mezzanine loans, first and second lien investments and other publicly traded securities. For more information please visit www.jzcp.com