Midtown Capital Pays $86M for 13 Doral Industrial Assets

Knighthead Funding provided a $63 million loan to Midtown Capital Partners to finance the acquisition of a portfolio of 13 urban-infill, small-bay industrial assets in Doral, Florida. Midtown Capital Partners acquired the portfolio in an off-market transaction for a final purchase price of $86 million. 

The Knighthead team led by Jonathan Daniel, Alexandra Wiggins, and Joseph Marraccini arranged the loan. 

The portfolio was developed and assembled by the seller over nearly 30 years, creating a rare opportunity to acquire an institutional-scale collection of small-bay industrial properties within a highly fragmented asset class. The portfolio encompasses approximately 290,000 square feet across 13 small-bay industrial buildings situated on 13.33 acres, with 158 loading bays, approximately 429 parking spaces, and clear heights ranging from 16 to 22 feet. 

The properties comprising the portfolio are located within a one-mile radius with convenient access to major regional transportation corridors and the Miami International Airport.

Arrow Real Estate Advisors negotiated the financing on behalf of Midtown Capital Partners.