MIAMI—Pointe Group Advisors has expanded its management contract portfolio in South Florida by 4.7 million square feet with the acquisition of Americas Property Management Corp. of Miami.
The purchase was announced by Peter C. Gardner, founder and CEO of Miami-based Pointe Group Advisors. Financial terms of the transaction were not disclosed.
In addition to the increase in management contracts, the acquisition of Americas Property Management will expand Pointe Group’s current services to include industrial property management, company officials say.
“We are excited to announce the acquisition of Americas Property Management, which has an impressive list of clients and a roster of employees that includes veterans in the South Florida real estate market,” says Gardner. “The acquisition is part of Pointe Group’s strategic expansion to continue increasing our South Florida footprint and to broaden the asset classes that our firm focuses on.”
Americas Property Management has 10 employees who will all be retained in similar positions at Pointe Group Advisors. Properties that will now be part of the Pointe Group portfolio of managed properties include the Medley Commerce Center, the Aviation Business Center in Miami, and Webster Park located near Miami International Airport.
With the acquisition, Pointe Group Advisors with offices in Miami, Fort Lauderdale, Palm Beach, Sarasota and Tampa, has a portfolio of approximately 10 million square feet of commercial space under management.