The Real Deal Miami

DRA Advisors makes big Miami portfolio purchase

New York firm gives Flagler $132M for six office and retail properties
By Eric Kalis | July 17, 2014 10:30AM

Flagler Station

Flagler Station

Companies linked to New York-based DRA Advisors plunked down about $132 million for the Doral Concourse office building and five properties at Miami’s Flagler Station, The Real Deal has learned.

The DRA companies acquired the portfolio from Coral Gables-based Flagler in a transaction recorded last week, according to Miami-Dade County records. In addition to the 240,000-square-foot Doral Concourse, DRA picked up four office buildings and one retail building totaling nearly 500,000 square feet. No financing was recorded.

DRA is an active investor in South Florida. The company spent $85 million on a pair of Pembroke Pines retail centers in May.

Flagler Station is South Florida’s largest business park. Flagler Global Logistics began construction on the park’s third phase two months ago.