Riviera Beach
DRA Advisors has joined Redfearn Capital for the $107.5 million recapitalization of a Florida industrial portfolio spanning 900,000 square feet, according to the Commercial Observer. The 10-property collection, located from South Florida to Jacksonville, Fla., had been acquired by a Redfearn and TPG Angelo Gordon joint venture fund starting with 2021.
Three of the properties became part of the fund’s portfolio following a $20 million deal:
• 7555 Garden Road, a 66,212-square-foot warehouse in Riviera Beach, Fla.
• 400 Enterprise Drive, a 84,400-square-foot asset in Port St. Lucie, Fla.
• 8620 LTC Parkway, a 67,590-square-foot property also in Port St. Lucie
Locations of the other seven assets in the portfolio were not available.
Cushman & Wakefield negotiated on behalf of Redfearn Capital. Attorney Stuart Kapp of the Kapp Morrison law firm served as legal counsel.
Original https://www.commercialsearch.com/news/dra-recaps-florida-portfolio-with-108m-investment/
