Private equity real estate firm Redfearn Capital and partner TPG Angelo Gordon have acquired their latest pair of warehouses in the greater Miami area for $36.8 million.

Two entities tied to Delray Beach-based Redfearn, led by Alex Redfearn, and TPG Angelo Gordon, led by Adam Schwartz, acquired the properties in separate deals from two affiliates of DWS Group, records and real estate database Vizzda show. DWS,  also known as RREEF America Property Trust, is led by Stefan Hoops. 

In the larger deal, Redfearn and TPG Angelo Gordon paid $27.8 million for a 182,919-square-foot warehouse at 5255 Northwest 159th Street in Miami Gardens. The joint venture paid $152 a square foot for the facility. 

DWS sold the 6.9-acre site for more than double the previous sale price seven years ago. In 2018, DWS paid $12.3 million for it, records show. Completed in 1974, the facility’s main tenant is Mac Papers + Packaging.

In the second transaction, Redfearn and TPG Angelo Gordon paid $8.9 million for a 50,000-square-foot warehouse at 5959 Northwest 35th Avenue near Hialeah. The buyer paid $177 a square foot for the building. 

The 2-acre property sold for $5 million above the previous sale price. In 2018, DWS paid $3.9 million for it, records show. Completed between 1961 and 1964, the warehouse is leased to C Air Brokers & Forwarders.

The Miami-Dade deals mark the latest South Florida industrial collaboration between Redfearn and TPG Angelo Gordon. In August, the joint venture dropped $33.4 million for an industrial complex of four warehouses in Miramar, Vizzda shows. 

Meanwhile, DWS is in wheel-and-deal mode. In February, the firm sold Las Olas Centre I & II, a two-building office complex in Fort Lauderdale, for $208 million. Chicago-based Bradford Allen Investment Advisors bought the property. 

In July, DWS’ The Alhambra, a two-building office complex in Coral Gables, hit the market with a target price of $125 million. The same month, DWS paid $19.6 million for a self-storage facility in Tamarac, records show. 

The largest warehouse spans 182,919 square feet at 5255 Northwest 159th Street in Miami Gardens, just north of Miami-Opa Locka Executive Airport. The property — which is fully leased to Mac Papers & Packaging — includes 27 dock-high doors, two drive-in doors, and clear heights ranging from 21 to 30 feet.

The second property sits about seven miles south at 5959 Northwest 35th Avenue in Hialeah. The 50,000-square-foot facility is also fully leased, with C-Air Brokers & Forwarders as the tenant. The property features 18-foot ceilings and eight dock-high doors.

“This portfolio reflects exactly the type of functional, infill product that is in high demand across South Florida,” Alex Redfearn, CEO of Redfearn Capital, said in a statement.

The seller of both buildings, Deutsche Bank’s DWS Asset Management, paid a combined $16.3 million for the two sites in 2018, according to property records.

The transactions mark DWS’s latest selloff in South Florida. Earlier this year, the asset manager sold two office buildings in Downtown Fort Lauderdale for $423 million in total.