Limestone Asset Management Sells KFC Property for $5.5 Million

The Miami-based real estate investment firm purchased the property in 2014 for $960,000

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.

โ€œThis is a unique opportunity for us to sell this property for a price that likely wonโ€™t come around again for a long time,โ€ Ibrahim Al-Rashid says (pictured), chairman of Limestone Asset Management, which invests in and acquires real estate properties throughout North America. โ€œItโ€™s rare to have such a perfect match for both the seller and buyer. We are extremely pleased with this sale in todayโ€™s market.โ€

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 Groupโ€™s expertise to complete all of its North America-based transactions.

SFBW Staff
sfbw@lmgfl.com
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