Chateau Petit Douy

PROPERTY CHARACTERISTICS

• 7,000 sf historically-designated mansion in the style of a French chateau
• Architecture unique to Miami; large outdoor patio area ideal for restaurant adaptive reuse

ACQUISITION

• August 2013

INVESTMENT OPPORTUNITY

• Located at the corner of one of the most important intersections in the urban core of Miami
• Miami’s central business district is projected to add 100,000 residents through 2019
• Imbalance in submarket supply/demand; retail vacancy had fallen to historic lows while rents had been increasing

EXECUTION

• Secured a city code amendment to allow rezoning from residential to retail/restaurant use
• Received all historic approvals, including the right to expand the building