DELRAY BEACH, FL -August 4, 2020- – Redfearn Capital LLC (www.redfearncapital.com) announced today the $2.8 million acquisition of 170 Commerce, a 22,000 square foot industrial building located in Boynton Beach, FL. This is Redfearn Capital’s fourth acquisition in 2020 bringing the firms total portfolio to 1.8 million square feet and with approximately $270 million in assets under management.
Alex Redfearn, Principal and Founder of Redfearn Capital remarked, “The acquisition of 170 Commerce is our fourth acquisition of 2020, and our second industrial building acquired this year. Being that we already own 80,000 square feet in this Gateway Commerce Park, we felt the opportunity to acquire the adjacent building off market at distressed pricing to be extremely attractive. Even during the Covid-19 pandemic, we believe owning well located industrial assets in South Florida will continue to be an attractive allocation of our capital long term. With this new acquisition, we now have eleven properties in South Florida. Redfearn Capital has a few other acquisition targets we expect to close in 2020 as we continue to pursue opportunistic acquisition opportunities in strong markets.”
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