1st Apr 2015 07:00
JZ CAPITAL PARTNERS LTD - Miami Real Estate AcquisitionJZ CAPITAL PARTNERS LTD - Miami Real Estate Acquisition
PR Newswire
London, March 31
JZ CAPITAL PARTNERS ACQUIRES THREE NEW PROPERTIES IN MIAMI, FLORIDA 1 April 2015 JZ Capital Partners Limited (LSE:JZCP.L or "JZCP"), the London listed privateequity fund that invests in high quality US and European microcap companies andUS real estate, has expanded its real estate portfolio in Miami, Florida bymaking three new acquisitions alongside its long-term real estate partner,RedSky Capital, LLC ("RedSky"). JZCP and RedSky acquired 2621 NW 2nd Avenue located in Miami's Wynwoodneighbourhood and 1 NE 40th Street and 35 NE 40th Street, two propertieslocated in the Design District neighbourhood of Miami, Florida. The MiamiDesign District is a neighbourhood with innovative fashion, design,architecture and high-end dining experiences, attracting some of the world'smost prestigious brands and retailers. These three properties follow JZCP's first investment in Miami's Wynwoodneighbourhood, 2407 NW 2nd Avenue, which closed in January 2015. On a combinedbasis, the current Miami portfolio offers a total of 66,100 sq. ft. of primeretail and office rental with an additional 265,350 buildable sq. ft. providingfuture flexibility to develop a mix of luxury retail, high-end office,residential, or hotel space. The portfolio features 260 ft. of frontage on NE40th Street and 210 ft. of frontage on NW 2nd Avenue, each the premiere retailcorridor in its respective neighbourhood. The combined purchase price for the four properties was $97.4 million, of whichJZCP provided $42.9 million. David Zalaznick, JZCP's Founder and Investment Adviser, commented: "The DesignDistrict of Miami is being transformed into a world-class shopping and culturaldestination. We are excited to be invested in this fast growing market. This announcement marks our fourth acquisition in the Miami property marketsince the beginning of the year - a key market as we strive to build a balancedportfolio of real estate assets that provide our shareholders with superior,long-term returns." Ends For further information: Ed Berry / Kit Dunford +44 (0) 20 3727 1143FTI Consulting David Zalaznick +1 212 485 9410Jordan/Zalaznick Advisers, Inc. Andrew Maiden +44 (0) 1481 745368JZ Capital Partners About JZCP JZCP is a London listed private equity fund which invests in high qualitymicrocap companies, real estate and other debt and equity opportunitiesglobally but with a particular focus on opportunities in the US and Europe. Itscorporate objective is to create a portfolio of investments providing asuperior overall return comprised of a current yield and significant capitalappreciation. JZCP receives investment advice from Jordan/Zalaznick Advisers,Inc. ("JZAI") which is led by David Zalaznick and Jay Jordan. They have workedtogether for 30 years and are supported by teams of investment professionals inNew York, Chicago, London and Madrid. JZAI's experts work with the existingmanagement of microcap companies to help build better businesses, create valueand deliver strong returns for investors. JZCP, with the advice of JZAI,targets predominantly private investments, seeking to back exceptionalmanagement teams to deliver on attractive investment propositions. For moreinformation please visit www.jzcp.com.
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