Midtown pays $45M for suburban complex, tees up rentals project

Midtown Capital Partners bought an office complex in Pembroke Pines for $44.5 million, making way for a potential multifamily project.   Miami-based Midtown Capital purchased The Edison at 1200-1300 Southwest 145th Avenue from Atlanta-based TPA Group, according to records and Vizzda. The buyer borrowed $28.9 million from Israel Discount Bank of New York for the deal.  Completed in 2019, the 117,300-square-foot Edison consists of a three-story building and a one-story building on a 12.6-acre site, Vizzda records show. It last traded for $12.2 million in 2017, according to property records.  Edison roughly 87 percent occupied, said Alejandro Velez, of Midtown Capital.  […]

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