In another case of a New York financial firm setting up shop in South Florida, investment fund Premium Partners has leased office space in Miami Beach.
Pretium Partners has taken 11,591 square feet at Eighteen Sunsetdevelopers Deco Capital Group announced Thursday. The new building at 1769 Purdy Ave is set to open in 2023.
Pretium Partners has a Miami Beach office at 1688 Meridian Ave, according to the company’s website. It didn’t release details about how large that space is or whether it will vacate after it moves into the new building. Pretium is an owner of single-family rental properties, with a portfolio of 85,000 homes. Its assets under management exceed $50 billion.
Pretium Partners was founded by Don Mullena former partner at Goldman Sachs.
“Having an office in Miami will enable Pretium to attract and retain premium talent and broaden the pool of diverse candidates we seek to recruit,” Laura CappielloPretium’s chief human resources officer, said in a statement.
Stephen RutchikExecutive Managing Director of Colliers International Floridaand Neil KingVice Chairman of CBRE New Yorkrepresenting Deco Capital in the transaction. Daniel PosyExecutive Managing Director of JLL New Yorkrepresented Pretium.
Tech and finance firms have been flocking to Miami Beach. Andreessen Horowitzthe venture capital firm also known as a16z, inked a lease earlier this year at Barry Starlight‘s development at 2340 Collins Ave.
In another sign of new investment in the Miami Beach office market, the Miami Beach Preservation Board this week unanimously approved plans for major upgrades to 407 Lincoln Rdan office building famous for its rooftop clock.
Jeff Ostrowski can be reached at [email protected].