Dadeland Investors LLC Purchases Downtown Dadeland in Miami

HALIFAX, Nova Scotia - (BUSINESS WIRE) - Dadeland Investors LLC yesterday completed the purchase of the remaining 158 residential units at Downtown Dadeland, a seven-building condominium community in Miami-Dade County, Fla.

Dadeland Investors LLC is a joint venture between Southwest Properties Limited and Armco Capital Inc., both family-owned businesses in Halifax, Nova Scotia on the east coast of Canada.

With 416 total residences and 127,000 square feet of street-level commercial space surrounding a central fountain, combined with the area's close proximity to area amenities and businesses, Downtown Dadeland offers residents a true urban living experience in Kendall, one of Miami's most desirable neighborhoods.

"We are very excited to have purchased residences at Downtown Dadeland," said Jim Spatz, Chairman and CEO of Southwest Properties Limited. "This property is of exceptional quality and is located at the heart of a vibrant community with prime industry and shopping. We plan to continue looking for additional investment opportunities of this caliber in South Florida."

The Downtown Dadeland residences include studio, one-, two- and three-bedroom floorplans ranging from 470 to over 1,700 square feet. Each open to lushly landscaped courtyards with open walkways and exit into an urban village street scene featuring canopied sidewalks and a variety of shopping and dining options such as West Elm Furniture and Panera Bread Co.

Amenities include a rooftop infinity pool and cabana area, state-of-the-art fitness center with panoramic views of the community, and on-site management and security.

The community is located at the intersection of three major roadways - Dixie Highway, North Kendall Drive and the Palmetto Expressway (SR 826) - making Downtown Dadeland easily accessible to downtown Miami, Miami International Airport, Coral Gables and more. It is also adjacent to the Dadeland South Metrorail Station, a major transportation hub.

The super-regional Dadeland Mall sits opposite the community, and major hotels, supermarkets, specialty shopping and a host of high-rise commercial buildings are within just two blocks.

The residences purchased by Dadeland Investors LLC are now available for purchase and lease by contacting Angela Sparks, Property Manager, at (305) 670-3400, by email at angela.sparks@southwest.ca, or by visiting the leasing office in Suite B105 at Downtown Dadeland.

Downtown Dadeland is the second project in Florida for Southwest and Armco Capital. They acquired 171 condominiums at The Place at Channelside in Tampa, Fla. in 2008.

About Southwest Properties

Southwest Properties owns and operates more than 1,400 quality apartments situated in the best residential communities of Halifax, and its commercial portfolio totals approximately 1,000,000 square feet.

About Armco Capital Inc.

Traditionally known as a residential real estate developer, Armco has expanded into commercial, industrial and institutional real estate, as well as asset management. It owns, operates and maintains over 1.5 million square feet of space in Halifax.

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For Dadeland Investors LLC
Southwest Properties
Gordon Laing, President & COO, 902-422-6412
gordon.laing@southwest.ca