The Real Deal Miami

San Francisco firm sells Red Lobster in Kendall for $6M

Golden Gate Capital bought the restaurant in October for $5.1M

January 19, 2016 02:15PM
By Katherine Kallergis

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West Kendall Red Lobster

West Kendall Red Lobster

Golden Gate Capital has sold a Red Lobster it purchased in October for a nearly $1 million profit, county records show.

The Red Lobster, at 11550 Southwest 88th Street, sold for about $6 million – the equivalent of roughly 300,000 garlic shrimp scampi and linguini combos. 

GGC Real Estate Investments I, a company tied to San Francisco-based Golden Gate Capital, sold the 8,100-square-foot restaurant to 801 Red Lobster LLC. The restaurant, built in 2011, sits on a 99,752-square-foot lot. Property records show that Golden Gate paid $5.1 million for the property in October to flip it on Jan. 13. The private holding company has more than $15 billion in committed capital, according to its website.

The buyer lists an address that matches that of Capital Realty Services Inc., a Coral Gables-based real estate firm led by principals Isaac K. Fisher and Robert G. Berrin.

Before Golden Gate, Roger and Leslie Schindler owned the West Kendall property. The Schindlers also owned Pablo Escobar’s former home on North Bay Road, which is being demolished this week.