Timo Kipp, a visionary real estate investor creates a space that is booming in Coconut Grove Miami for high end content, advertising and production companies
Mayfair Coconut Grove is one of the destinations where Sony Music, Publicis Sapient, Industrious and Virgin Hotels, among other global firms, are established.
MIAMI, July 21, 2023 /PRNewswire-HISPANIC PR WIRE/ — If there is a visionary real estate investor betting on the growth of companies, focused on high-end production, quality content development, publications and advertising, it is Timo Kipp, principal investor at Whalou Properties.
Timo Kipp acquired the Mayfair in 2010, before it was publicly available on the market. The commercial property is located in Coconut Grove, Florida, one of the most exclusive areas of Miami Dade and which at that time was considered a run-down and abandoned area by retailers.
Today, thirteen years later, the story has a very different and promising outcome, thanks to the creativity of Kipp, who worked until content and production companies such as Sony Music, Publicis Sapient, Industrious, Santander, One Park Financial or Virgin Hotels saw the potential of the area and decided to establish their offices in Mayfair, which currently has 100% occupancy.
Mayfair in the Grove is located adjacent to Cocowalk, located in the heart of Coconut Grove, one of South Florida’s most popular cultural, dining and entertainment destinations.
“In 2010, when I acquired Mayfair from Deutsche Bank, many said I had bought a white elephant, and they were excited about what I would do with a 283,000-square-foot property that we got for $38 million,” Kipp says.
And it is that the experience is not improvised. This is precisely what has made the revival of Mayfair and the Coconut Grove area successful, combined with the drive and motivation of Kipp, of German origin with management studies and a master’s degree in real estate investment from the University of London, with more than 25 years in commercial transactions and in charge of managing high-end portfolios in derivatives and futures options at Goldman Sachs.
“I always believed in the future of real estate in Florida. So when my father died in 2003, leaving two commercial properties in Palm Beach, I made an offer to my brothers and bought it with the intention of growing it, and in less than three years I did it from 70% to 100%. % Of occupation. At that moment I decided to sell it, even though it was having success and excellent profitability. I reinvested the money in Mayfair, after having placed 300 offers to acquire a commercial building”, adds Kipp.
Kipp describes himself as passionate about the commercial real estate space, focused on doing things right. With that vision, the companies that today have offices in Mayfair have created more than a thousand jobs. There, millionaire businesses come together that generate the creation of content and production of world entertainment.
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SOURCE Timo Kipp
