Record South Beach Sale
Olshan represented long time client and New York-based developer, David Edelstein of Tristar Capital, is his record setting $139 million sale of a three-building portfolio in Miami, Florida. The portfolio consists of properties on Lincoln Road in the heart of Miami’s South Beach district. Current tenants in the fully-occupied portfolio include Aldo, Solstice, Score, Tiramesu, Spris, Fossil, Kiehl’s, SOBE, Steve Madden and Dylan’s Candy Bar. A joint venture consisting of Terranova Corporation and Acadia Realty Trust acquired the portfolio in an all-cash deal. The New York-based real estate mogul was an early investor in Lincoln Road’s revival. Eric Goldberg, Keith Pollock and Danielle Frank comprised the Olshan real estate team that represented Edelstein in this sale.