David Moret, a former CREC principal, said he has left that firm to start a new Miami-based real estate investment company, Highline Real Estate Capital.
The new firm, located at 80 Southwest 8th Street in the Brickell area, will focus on acquiring office and retail properties in conjunction with capital partners, Moret told The Real Deal. The emphasis will be on Florida, though the company will look beyond Florida to other parts of the Southeastern U.S., he said.
“Highline is an investment focused company,” Moret told TRD. “We are operators and investors. We can add value through re-tenanting, redevelopment, expansion.”
The goal, he said, is to invest, along with partners, “to add value to underperforming real estate.”
Moret said he has several deals in the works, but none that are near finalizing. He said he expects to add to his staff in the future.
Moret started his real estate career as an office leasing agent at CREC in 1995 and expanded his practice into investment sales and brokerage beginning in 1996. He then began pursuing real estate investment opportunities on behalf of the firm and its investment partners, and started leading the firm’s investment activities starting in the early 2000’s, according to a release. In that role, he structured more than $500 million in acquisitions through an affiliated entity called Continental Properties Acquisitions Corp., or CPAC, and was also responsible for overseeing the asset management, development and redevelopment of company-owned assets, the release said.
Among those deals was the $12.2 million sale of Pembroke Pines Professional Center in Pembroke Pines; the $8.5 million sale of Palm Johnson Plaza in Pembroke Pines; the $6.3 million sale of a CVS leased property in Coral Springs; the $7.3 million acquisition of Silver Lakes Professional Campus in Pembroke Pines; and the $26.5 million acquisition of Royal University Plaza in Coral Springs.