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Limestone Asset Management Sells KFC Property for $5.5 Million

| SFBW Staff

Limestone Asset Management sold a 19,845-square-foot Kentucky Fried Chicken (KFC) property at 9690 S Dixie Highway in Pinecrest for $5.5 million, a 470% property value increase.

Joseph Sanz with Orion Real Estate Group represented the seller, Limestone KFC Miami, LLC. The buyer is Maestra Dadeland, LLC., which plans to build a large mixed-use project on the site and multiple adjacent sites.

“This is a unique opportunity for us to sell this property for a price that likely won’t come around again for a long time,” Ibrahim Al-Rashid says (pictured), chairman of Limestone Asset Management, which invests in and acquires real estate properties throughout North America. “It’s rare to have such a perfect match for both the seller and buyer. We are extremely pleased with this sale in today’s market.”

Limestone Asset Management is an affiliate of Orion Real Estate Group in Miami, its joint venture partner in the deal. Limestone Asset Management uses Orion Real Estate Group’s expertise to complete all of its North America-based transactions.

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.