UNO South Pointe Changes Hands In South of Fifth Following Acquisition By Pebb Capital-Led Partnership

A joint venture between Pebb Capital, Sabal Investment Holdings, and affiliates of Paceline Equity Partners has acquired UNO South Pointe, a 51,000-square-foot mixed-use office and retail property at 119 Washington Avenue in Miami Beach’s South of Fifth neighborhood. ACORE Capital provided financing for the acquisition. Originally completed in 2002 and renovated in 2025, the property is one of the few Super-Class A office buildings in the neighborhood.

The new ownership group plans to develop approximately 10,000 square feet on the building’s top floor into an ultra-luxury penthouse office featuring 15-foot ceilings, multiple outdoor terraces, and 360-degree panoramic views overlooking the Atlantic Ocean, Government Cut, Fisher Island, Biscayne Bay, and Miami Beach. Existing property management and operations will remain in place while the planned enhancements are carried out.

Credit: UNO South Pointe.

“UNO South Pointe represents exactly the type of opportunity we seek, a high-quality boutique office asset in a market where new supply is exceptionally limited and the location is second-to-none,” said Todd Rosenberg, co-founder and managing partner of Pebb Capital. “We focus on well-positioned commercial assets in fortress locations where active ownership can unlock additional value. As we grow our portfolio, we remain disciplined in pursuing investments that align with this strategy in South Florida.”

“UNO South Pointe fits squarely within Paceline’s real assets strategy: a high-quality, irreplaceable-location asset with a clear path to add value,” said Sam Loughlin, Chief Executive Officer of Paceline. “We’re excited to work with Pebb Capital and Sabal and look forward to supporting the repositioning of this property.”

“South of Fifth is one of the most supply-constrained office submarkets in South Florida, and UNO South Pointe’s combination of Class A quality, an irreplaceable location and near-term upside through the penthouse buildout made this a compelling investment for Paceline,” said Leigh Sansone, Chief Investment Officer of Paceline.

Located between Second and Third streets along Washington Avenue, UNO South Pointe occupies a prominent location within Miami Beach’s South of Fifth neighborhood, where limited office inventory and strong tenant demand have made commercial space increasingly scarce. The acquisition marks another investment in one of South Florida’s most supply-constrained office markets while introducing plans for a new luxury office offering at the property.

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