GMF Capital to Relocate Headquarters to Miami Beach

Susan Askew
Susan Askew

GMF Capital to Relocate Headquarters to Miami Beach:

Announcement comes after city approved incentives

GMF Capital LLC, a New York-based financial services firm, plans to relocate its headquarters to Miami Beach. According to an announcement from the City, the firm has signed a five-year lease at 1674 Meridian Avenue for Class A office space. The lease includes renewal options.

The move comes after the City approved incentives for firms relocating here including up to $60,000 per year for up to four years for new-to-market or existing companies in targeted industries. Financial services and technology firms with high-wage jobs are among those on the City’s wish list. Incentives also include an expedited plan review and building permit approval in ten business days to facilitate faster relocations.

GMF Capital, an investment management firm founded in 2015, “develops and executes operating businesses and investment strategies across diverse sectors, including real estate and health care,” according to the City’s announcement. The firm has more than $10 billion in real estate and health care assets.

In a letter to the Mayor and Commissioners, City Manager Alina Hudak noted, “GMF intends in short order to hire over a dozen employees to work out of its new Miami Beach offices (five have been hired already).” She said the City is “working with the company to determine if it qualifies for the Job Creation Incentive Program.” A review and recommendation for incentives, if applicable, would be required from the Commission’s Finance and Economic Resiliency Committee with final approval by the City Commission.

GMF co-founder and CEO Jay Lobell said, “Miami Beach is a hidden gem. With the beach in walking distance, so much to do and see, the food, art and culture scene, and sense of community, how could we pass up the chance to move our business to Miami Beach?” Lobell and several GMF employees and family members have recently purchased homes in Miami Beach.

“While we have a beautiful beach, we’re way more than a beach,” added Mayor Dan Gelber. “More and more top companies want to be part of our live-work-play lifestyle.”

GMF also has offices in Baltimore and Nashville.

Photo: Loopnet listing for 1674 Meridian

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