Funds managed by Blackstone Real Estate have acquired a Miami office complex from Shorenstein Properties for $230 million. The property, 2 & 3 MiamiCentral, is a 330,000-square foot complex that counts among its tenants Carlton Fields, Ernst & Young, New Fortress Energy and ViacomCBS as well as Blackstone's Technology & Innovations group, which occupies approximately 12% of the space at 2 MiamiCentral.
The buildings are directly adjacent to the MiamiCentral train station.
David Levine, senior managing director in Blackstone Real Estate, cited the building's "prime location" as among the reasons why it acquired 2 & 3 MiamiCentral. "We are high conviction, thematic investors focused on investing in growing markets with strong demographic tailwinds and talent pipelines, such as Miami."
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
