The recent high-profile purchase of a Coconut Grove office building is only the first of what is likely to be a string of transactions for a Miami Beach private equity fund, the CEO of that company told the Daily Business Review.
Camilo Miguel Jr., CEO of Miami Beach-based Mast Capital, said, “the next four or five months” would be white-hot for his company, which this week closed a $29.5 million deal to buy 2699 S. Bayshore Drive. In that deal, Mast got a nine-story office building in the heart of Coconut Grove with unobstructed views of Biscayne Bay. The building—105,062 square feet of office space on a triangular 1.16-acre lot—was scooped up by a partnership between Mast, Miami-based 13th Floor Investments and Greenwich, Conn.-based Wexford Capital. The partners financed the deal fully with cash on hand.
