Mattos family pays $20M for Waterway Shoppes of Weston

Posted :
November 27, 2020
Posted :
Share :

As reported in The Real Deal.

The Mattos family expanded its South Florida holdings by buying a shopping center in Weston for $20.45 million.

A company managed by Nicolas and Isabella Mattos — the children of Carlos Mattos, founder of car importer Hyundai Colombia Automotriz — bought the Waterway Shoppes of Weston at 2210-2282 Weston Road, according to records. The buying entity is also managed by attorney Richard G. Toledo.

The sale of the 36,000-square-foot shopping center equates to $569 per square foot.

Built in 1999 on 5 acres, the shopping center listed for $20.65 million, according to an online listing. Tenants include AT&T, Baires Grill and Pearl Vision Center. Spaces range from 980 square feet to 6,000 square feet.

The seller is a company tied to Fondo Atlas, a Miami-based owner and operator of real estate in Florida and South America. Fondo Atlas is led by Dylan Fonseca and Jose Torbay. The firm bought the shopping center for $15.3 million in May 2015, records show.

Earlier this year, the Mattos family bought an assemblage in Hialeah for $8 million.

Carlos Mattos is also partnering with Swire on a 100,000-square-foot-plus expansion at Brickell City Centre, which would include a 54-story, 588-unit residential tower, another 62-story, 384-unit residential tower, commercial space and parking.

In 2017, Fondo Atlas dropped $25 million for a shopping center in Palm Beach Gardens.

Other recent sales in Weston include industrial properties that were part of Blackstone’s $93.5 million portfolio purchase from Elion Partners.