Investors are betting big money on a Florida startup that’s looking to build a massive new shopping center in northeast Miami.
The company, Blue Ridge Investment Partners, has raised more than $30 million from local investors and is looking to take its project to a larger scale.
Blue Ridge’s biggest asset, in the form of property and a factory in downtown Miami, would be worth nearly $1 billion.
It’s also looking to expand its footprint in southeast Florida.
The property and factory would be the biggest pieces of the project and will have a big impact on how the new center would be built.
The project has attracted attention from a few big names, including billionaire Tom Barrack, who’s backing Blue Ridge, and billionaire Warren Buffett.
Investors are betting huge on Blue Ridge.
Blue Mountain, which also owns a real estate company, recently opened a new factory in Miami.
(The company did not respond to a request for comment.)
But Blue Ridge is also hoping to tap into an unexpected source of money.
Blue Ridge’s investment in Blue Ridge has attracted some big names.
Blue Crest Investment Partners has a lot of potential, said Blue Ridge Chief Executive Officer Todd C. McDonough.
Blue Creek Partners, a Miami investment firm, also has some big investors.
Blue Lake Capital Partners is looking for investors.
The Miami Herald reported that a couple of hedge funds are interested in buying Blue Ridge shares, although no deal has been finalized.
The company has a history of big investments.
Blue River Investments, which was founded by a man who also founded Blue Ridge in 2006, has built a reputation as a leader in residential and commercial real estate development in Florida.
Blueridge has a big footprint in Florida, but it also has a presence in New York, Texas and elsewhere.
BlueRidge is building a shopping center that would feature a new store called The Landing.
It also has plans to build hotels, offices and restaurants.
Blue Ranch Investments is also investing in an existing shopping center near Orlando.
More than half of Blue Ridge Investments’ total investments are in Florida and its main investor is a local billionaire, said McDonaughey.
For years, Blue River has been working with Blue Ridge to build retail in the area and was looking to tap the Miami-Dade market, McDonaugh said.
Blue Rides has been investing in shopping centers in Miami, and Blue Ridge also has offices in the state.
Blue Valley Partners is also a big tenant in downtown, Mcdonough said.
Some of Blue Ranches biggest assets are the shopping centers it’s building, McDonaldough said, adding that Blue Ridge had a long-standing relationship with Blue River.
In the past year, Blue Creek and Blue Ridges biggest investor, Blue Lake Partners, have begun a bidding war for the property.
Mc Donough said Blue Creek is looking at multiple options, including buying the property outright, buying out Blue Ridge or moving it to another area of Miami.
Mc Donough declined to disclose which of Blue Lake’s investments Blue Ridge and BlueRidges biggest shareholder, Blue Crest Investments, have made.
Mcdonaughey said the Blue Ridge investment group is “focused on growing the market in Miami and Florida.”
Blue River also is in talks to sell a large building in Miami to a Miami-based developer, Mc Donaugh said, but neither project has been announced.
A spokeswoman for Blue Ridge declined to comment.
With a focus on Miami, Blue Ridge’s goal is to build shopping centers with a large footprint and make money off the properties, Mc Donaldaughey told The Washington Times.
If the project is successful, Blue Mountain is planning to expand the property in southeast Miami.
Mc Donaldaugh said Blue Mountain will eventually add restaurants and apartments.
While Blue Ridge may have a long history in the Miami area, Mc DONAUGHEH said Blue Ries interest in Miami is “part of BlueRides evolution.”
He added that Blue Mountain had not made a decision about which of its other investments Blue Creek or BlueRridge would buy.
BlueCrest is the largest private investor in the shopping center, McDONAUGH said.
But it has never done business in Miami before.
When the deal with Blue Creek was announced, Blue Ranch had not yet been sold, Mc donaughey noted.
Blue Crest is also focused on Miami’s eastside, he said.