EQT Exeter paid out $14.5 million for a warehouse and office environment building in Doral.
An affiliate of the Radnor, Pennsylvania-centered serious estate financial investment rely on obtained the 45,970-sq.-foot combined-use building at 3605 Northwest 115th Avenue, data show. Sitting on a 2.1-acre site, the making was finished in 2004.
The seller, an entity managed by Harry Aizenberg in Laredo, Texas, paid out $690,000 for the property in 1997, information present.
The constructing is leased to Wrk Lab, an business office home furniture vendor, in accordance to an on the internet listing.
Led by CEO Ward Fitzgerald, EQT Exeter acquires, develops, leases, and manages industrial, residential and business office properties in North and South The us, Europe and Asia, in accordance to the firm’s web page. In 2022, EQT Exeter paid $85.5 million for a 380-device condominium elaborate in Chicago. In 2021, the business acquired a six-constructing business office and investigate campus in San Jose, California, for $192 million.
South Florida’s industrial marketplace began the calendar year potent with 5 deals in January. Bahrain-dependent Investcorp paid out $72.3 million for Powerline Organization Park, an industrial complicated in Deerfield Seaside. The firm partly financed the acquisition with a $76.6 million financial loan from MetLife Investment Management.
In an off-industry deal, Boston-primarily based Longpoint Associates scooped up six warehouses in close proximity to Medley and Doral for $30 million. Also in Doral, ComReal sold a warehouse for $17.5 million to Sebastian Guejman, an Aventura-based mostly actual estate trader. Guejman took out an $11 million home loan with Banesco Usa to partly finance the obtain.
An affiliate of Doral-dependent Parker Davis HVAC Worldwide acquired a Medley warehouse that was completed past year. Parker Davis compensated $42.3 million for the 143,571-square-foot industrial constructing.
In an additional Medley deal, Miami-based Cofe Attributes bought a blended-use complex for $38.5 million. Baltimore, Maryland-based mostly ABR Funds, and Darien, Connecticut-primarily based East Cash Associates acquired two 4-tale business buildings and six industrial warehouses. The joint venture partially financed the obtain with a $25.6 million mortgage loan from Boise, Idaho-dependent A10 Funds.
