Track Record
Founded in 1999, Sandstone Realty Advisors has extensive experience in all product sectors and all major markets in Florida. We have been through many real estate cycles. Our background is different than most.
Sandstone President, Jim Fried, got his start at a major accounting firm (Laventhol & Horwath) where he performed some of the first urban retail, condominium and mixed use feasability studies in Florida. In the early 1980’s Mr. Fried performed retail feasibility studies for the Downtown Development Authorities in both Tampa and Orlando as well as for Walt Disney World’s Pleasure Island. He also performed feasibility studies for a number hotel and condominium developments on Florida's East Coast.
Mr. Fried built on this foundation when he joined the Tampa office of Sonnenblick-Goldman. At the time. Sonnenblick-Goldman (SG) was one of the most prolific real estate investment banking firms based in New York City. SG was recently acquired by Cushman & Wakefield. At SG, Mr. Fried originated joint ventures and structured complex financing solutions for his clients.
The great real estate recession of the early 1990's hit and Mr. Fried left Sonnenblick to join a local Miami team specializing in receiverships and property management for real estate owned by banks and government agencies - CONDOVEST.
As the markets firmed up he joined The Aztec Group where he closed a number of large transactions including the sale of the Mayfair in the Grove – one of Miami’s first urban mixed use projects.
In the mid-1990’s Mr. Fried was tapped to lead the investment sales practice for Grubb & Ellis. He soon was promoted to District Manager for Miami-Dade, Broward and Palm Beach Counties. He led Grubb & Ellis to its first profitable year in its 10 year South Florida history. After turrning-arround Grubb & Ellis in South Florida, Mr. Fried departed to take advantage of the new liquidity that was moving the markets in the late 1990’s. He ventured with publicly held Milestone Properties to acquire a number of retail centers in Florida and eventually formed Sandstone Realty Advisors.
In the last market cycle, Mr. Fried helped national rental apartment giant Fairfield Residential to identify urban development sites with transit and mixed use components. He has arranged high leverage transactions to assist local entrepreneurs convert condominiums and reposition office and industrial buildings. Mr. Fried has acquired retail, office and industrial properties for his own account including the Le Jeune Executive Center in Miami Springs, FL.
In the current market cycle, Mr. Fried is building on his special asset and receivership skills through a strategic relationship with Lewis B. Freeman and Partners, the region's top forensic accountant and receiver. He is also working as an expert witness providing "fairness opinions" on property values for projects that are the subject of litigation. His residential companies - Freedom Mortgage and Freedom Real Estate are active in the residential short sale arena in Florida.
No other firm offers the combination of market knowledge, industry contacts and range of experience that Sandstone Realty Advisors brings to the table. Let us help you preserve, enhance or create value by adding our unique skill set to your team.