Financier drops $13M for waterfront Coral Gables estate

An investment manager dropped $12.65 million for a waterfront Coral Gables estate.

Adil Rahmathulla, managing partner of the Miami-based private equity firm I Squared Capital, bought the 7,589-square-foot home at 6855 Sunrise Drive for $1,666 per square foot, records show. A company tied to Gladelmis Rodriguez of Miami sold the house in the off-market deal.

The home has five bedrooms and seven bathrooms with over 100 feet of bay frontage. It was built in 2016 and sits on a 16,500-square-foot lot.

The property last sold in 2004 for $3.1 million, records show.

I Squared Capital is a private equity firm focusing on global infrastructure investments, founded by former Morgan Stanley executives. It has over $13 billion in assets under management. In April, Rahmathulla was promoted to managing partner of I Squared Capital, according to a press release.

Near Rahmathulla’s new pad, Miami Heat player Justise Winslow paid $3.3 million in December for a 7,354-square-foot, six-bedroom home at 506 Sunset Drive.