Azora Private Solutions Snags Two Coconut Grove Office Buildings for $82M

Azora Private Solutions, the joint venture between Miami-based Exan Capital and Madrid-based Advenir Azora, has made a discreet move in the Miami real estate market by acquiring two office buildings in Coconut Grove for a combined $82 million. The purchase, which equates to roughly $603 per square foot, includes a total of 136,000 square feet of office space at 3225 Aviation Avenue and 3250 Mary Street.

The buyer financed the purchases with a loan from Abanca USA, according to a source close to Azora Private Solutions. The managing principals of Azora Private Solutions, Juan José Zaragoza and Ignacio Gil-Casares, declined to comment on the deals.

The acquisition of these two office buildings adds to Azora Private Solutions' growing portfolio in the Miami area. The company also owns the 100,000 square foot office building at 3138 Commodore Plaza in Coconut Grove, which they purchased for $43.5 million in 2019.

The purchase of these two buildings is just the latest in Azora Private Solutions' aggressive expansion in Miami. The company has been actively acquiring properties in the area since its formation in 2017, and has been in the news recently for their involvement in several high-profile real estate deals.

When asked about the recent purchase of the two Coconut Grove office buildings, a spokesperson for Azora Private Solutions stated, "We are always looking for opportunities to expand our portfolio in Miami and these two buildings were a perfect fit for us."

Originally reported by