DRA Advisors makes big Miami portfolio purchase

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.

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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.