Altis Cardinal’s experience prepares it for opportunistic acquisition and repositioning of commercial assets. Our experience includes the acquisition and development of commercial assets from retail centers to office parks. Our commercial portfolio is emblematic of our capacity to adapt and react to opportunity.
In early 2014 the Altis Cardinal team moved its headquarters to 901 Ponce de Leon Blvd in Miami’s Coral Gables business district. The occasion was an investment opportunity in one of the most recognizable office buildings on the district’s main road.
The ten-story 178,000sf office tower’s previous owners were shifting their investment focus, but without fully giving up their star property immediately. The previous ownership group opened up to the possibility of a partnership – one in which an equity partner could assist in the property’s operations. The complex opportunity well suited Altis Cardinal’s deal making capabilities.
The partnership lasted for 4 years during which Altis Cardinal managed property operations including the leasing of office space and over three million dollars in capital improvements. In 2018, Altis Cardinal took full ownership over the building having increased the total value of the building by 50% over the four-year period.
Today 901 Ponce remains Altis Cardinal’s permanent headquarters. Its tenants include international businesses –including American Airlines and Stantec—and leading local law firms, investment groups, and other tenants. From its home base, Altis Cardinal offers it prestigious tenants the highest quality of office space.