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Buchanan Ingersoll & Rooney assisted Fontainebleau Development, one of the country’s premier real estate development and hospitality groups, in the acquisition of the iconic Kaufmann’s Grand on Fifth in Pittsburgh. Centrally located within the prime Golden Triangle district, the historic landmark building is perfectly positioned for both multifamily and retail use; with easy access to all major employment centers, restaurants, retail and other amenities that downtown Pittsburgh offers.

Led by Chairman and Chief Executive Officer, Jeffrey Soffer, Fontainebleau Development brings over three decades of experience in the hospitality, residential, retail, commercial and luxury services sectors to the high-profile project. With a portfolio comprised of the legendary Fontainebleau Miami Beach, - JW Marriot Miami Turnberry Resort & Spa and Turnberry Ocean Club Residences, the company is perfectly positioned to complete the project and restore the iconic department store to its glory.

“The opportunity to bring the redevelopment of one of Pittsburgh’s most iconic buildings to fruition is one that not only fits within Mr. Soffer’s vision, but also one that comes full circle,” said Jack Kessler of Buchanan Ingersoll and Rooney, the Buchanan shareholder representing Fontainebleau. “Mr. Soffer’s father, among other projects, built two of the city’s regional shopping malls, South Hills Village and Monroeville Mall and One Oxford Centre, a high-rise office tower still engrained in the city’s architectural foundation. We are confident that Mr. Soffer’s years of successful development will only add to the strong growth currently taking place in the city.”

Read more about the transaction in the Pittsburgh Post-Gazette, the Pittsburgh Business Times and the Tribune-Review.