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Thor unloads Design District properties: $128.3 Million

Buyers Redsky and JZ Capital Partners have spent more than $233 million in the district

Joseph-Sitt-North-Miami-Avenue-properties-and-Ben-Bernstein

 

Less than three years after it began assembling a war chest of properties in Miami’s Design District, Thor Equities has just sold eight sites to Redsky Capital and David Zalaznick’s JZ Capital Partners for $128.285 million.

The nearly two-block purchase adds to Brooklyn-based Redsky Capital and London-based JZ Capital Partners’ growing portfolio in the district, where the joint venture partners have invested more than $233 million in recent months.

New York-based Thor, led by Joseph Sitt, had paid a total of $46.8 million for the properties it just sold, all of which the firm purchased in 2013 and 2014, Miami-Dade property records show…

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Read the full story at The Real Deal, by Ina Cordle and Katherine Kallergis

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