Investcorp scooped up the Powerline Organization Park industrial elaborate in Deerfield Seaside for $72.3 million.
The Bahrain-centered agency acquired 14 one-story structures at 4100 North Powerline Highway from the Los Angeles County Staff Retirement Affiliation, in accordance to information and authentic estate database Vizzda. The customer took out a $76.6 million mortgage from MetLife Financial commitment Management.
The buildings ended up accomplished at different occasions from 1983 to 1993 and span 25.4 acres, Vizzda information clearly show. The acquire contains a 20.2-acre lake.
Los Angeles County Personnel Retirement Affiliation, or LACERA, experienced paid out $62.3 million for the properties in 2019, documents show. Led by Santos Kreimann and Luis Lugo, the pension fund serves L.A. County and other districts, according to its web site.
Investcorp is a world substitute expense manager with six lines of business enterprise, such as private fairness, authentic estate, infrastructure and credit history administration, according to its web site. The firm had additional than $50 billion of property under administration as of 2022. Investcorp is led by
Rishi Kapoor and Hazem Ben-Gacem. (Kapoor is a distinct particular person than the embattled previous Location Ventures developer.)
Investcorp’s earlier South Florida investments focused on the multifamily marketplace. In 2021, it marketed the University Housing scholar rental complex at 135 Northwest 20th Avenue in Boca Raton for $80 million. Investcorp had paid $70 million for the property near Florida Atlantic College in 2019.
Read far more
South Florida industrial expense product sales have kept up a balanced rate, even with elevated curiosity rates. In December, Longpoint Associates compensated $262 million for a 25-creating portfolio throughout Miami-Dade and Broward counties, marking the greatest industrial deal of final year.
This thirty day period, investor Sebastian Guejman scooped up the Lakes Edge Innovation Heart warehouse at 9000 Northwest 15th Avenue in Doral for $17.5 million.
