Locust Park Capital, a private equity real estate and capital advisory firm, has made the move to Miami. The firm joins the long list of New York City-based companies that have decamped to Miami since the beginning of the pandemic. According to company President Keith Lee, moving was a no-brainer. “We have been doing business in Miami and South Florida as a whole for years. Personally, I’m looking forward to not having to hop on a plane every other week!”
Mr. Lee also says the pandemic played a big role in Locust Park’s decision to relocate. “While the pandemic was devastating for too many, others including myself viewed this as a wake-up call. We were sitting pretty, very comfortable with the day-to-day then, wham! It makes you think about life, your family, and your quality of life.”
He says Miami Mayor Francis Suarez’s “How can I help” call to action resonated with him. “Look, I’m a New Yorker born and raised, but the New York I knew growing up no longer exists. You are dealing with a bureaucracy that doesn’t care about its people and the rule of law, only votes. The city is expensive and dangerous and frankly isn’t a place where I want to raise my future kids.”
Mr. Lee also cites South Florida’s strong real estate market. “Personal feelings aside, moving down here is great for business. There is no shortage of developers looking for creative solutions for their financial needs and no shortage of lenders, and potential equity partners that are looking for solid deals with tremendous upside. The future is extraordinarily bright for Florida!”
Locust Park Capital is a private equity real estate and capital advisory firm headquartered in Miami, Florida. Founded in 2018 by accomplished principals with over 30 years of combined experience, the company specializes in arranging sponsor equity and debt financing for developers, real estate funds, and family offices both domestically and abroad.