Thor Equities Group Expands Presence in Wynwood with $30.25 Million Acquisition of Prime Development Sites
Miami, FL, Sept. 25, 2025 (GLOBE NEWSWIRE) -- Thor Equities Group, a global leader in urban real estate development, leasing, and management, announced today the acquisition of three prime land sites in the heart of Miami’s Wynwood district. The properties, located at 2724 NW 2nd Avenue, 2825 NW 2nd Avenue, and 187 NW 28th Street, were purchased for a collective $30,250,000.
The nearly 2-acre portfolio is zoned for up to 613,000 square feet of development, and exemplifies Thor’s long-term commitment to identifying and investing in dynamic, creative neighborhoods with strong growth potential. 2724 NW 2nd was acquired for $10M while 2825 NW 2nd and 187 NW 28th Street were acquired together for $20.25M. Thor originally purchased 2724 NW 2nd Ave in 2014 for $10M and sold it in 2023 for $28M; and has now reacquired this property demonstrating the firm’s expertise in timing and strategy.
“Miami’s Wynwood is one of the most exciting cultural and lifestyle destinations, attracting residents, businesses, and visitors from around the world,” said Joe Sitt, Chairman of Thor Equities Group. “Reacquiring one of our former assets reflects both our confidence in Wynwood’s growth and our ability navigate market cycles.”
“Wynwood’s continued growth makes it a key component of our broader Florida strategy,” said Jack J. Sitt, CIO of Thor Equities North America. “It’s a place is where design and creativity guide development, not follow it, and we are thrilled to be part of its evolution.”
Thor Equities Group has a proven track record of identifying and executing transformative projects in global gateway markets. The firm’s latest acquisition in Wynwood adds to its Florida portfolio, which includes assets in the Design District and Miami Beach; as well as industrial assets outside of Tampa. Also in Wynwood, Thor Equities developed and fully leased Wynwood Walk to tenants including Puttery, Sea Saw/Shinso, Chama De Fogo, Midtown Boba, and Collectors Club. Last year, Thor closed a $36.95 million construction loan secured by ACRES Capital for its development, Wynwood Walk.
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About Thor Equities Group: Thor Equities is a leader in the development, leasing and management of industrial, laboratory, residential, office, hotel and mixed-use assets in premier locations worldwide. The company operates in major cities around the globe and has a property portfolio totaling $20 billion with a development pipeline in excess of 50 million square feet. Thor has a strong presence on three continents and in addition to its US holdings, the company has assets in European gateway cities including London, Paris, Madrid, and Milan, and is the largest developer in Mexico through its Latin American division with a development pipeline of over 20 million square feet. Thor maximizes returns for institutional investors by recognizing a property’s potential, reducing operating expenses, increasing tenant satisfaction, and leveraging market trends to maintain a long-term competitive edge. For more information, visit www.thorequities.com.
Katie Smith Thor Equities Group ksmith@Thorequities.com
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