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Invesco Buys South Florida Industrial Portfolio for $98 Million

Invesco Advisers Inc. pocketed a $98 million industrial portfolio comprised of seven properties spanning Miami-Dade and Broward counties.

Rather than sell off the properties completely, the Easton Group, a Doral-based commercial real estate firm, retained a 10 percent interest and held onto its title as property manager leading the buildings' leasing efforts.

The blockbuster deal closed Wednesday and solidified a joint venture between Easton and Invesco, an Atlanta-based investment management company.


The buyer was represented by Greenberg Traurig attorneys Rick Giusto and Danielle Gonzalez in Miami, who said negotiations lasted about 2½ months.

Easton, a 30-year client, and Invesco, a 21-year client, met through the law firm, said Giusto, a co-managing shareholder in the Miami office. He said Greenberg represented Easton when it purchased most of the properties.

"What we were happy about is that we [made] the introduction a number of years ago. We knew they'd be a good match," he said. "This is just one of those opportunities that they were able to pursue together."

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