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.