DELRAY BEACH, FL -May 5, 2021- – Redfearn Capital LLC (www.redfearncapital.com),a full service private real estate investment firm with assets valued at more than $300 million,announced today the $5.9 million ($87.29 psf) acquisition of LTC Parkway, an 67,590 square footindustrial building located in Port St Lucie, FL. The acquisition of 8620 LTC Parkway is the secondproperty closed with Angelo Gordon under the new joint venture and the venture currently hasanother industrial property under contract that is expected to close in late May 2021.
LTC Parkway consists of one single story Class A industrial building totaling 67,590 sf situated onover 10-acres within the Port St Lucie market. The Property has loading docks with 10’ x 12’overhead access doors and 10’ X 12’ grade level loading doors. The property is tilt wall concreteconstruction with 24 ft ceiling clear heights. This Property is well located west of I-95 off MidwayRd which has historically low vacancy and great access to I-95. The current tenants include MVTransportation and ABC Building Supply.
Alex Redfearn, Principal and Founder of Redfearn Capital remarked, “The acquisition of 8620 LTCParkway is our second acquisition under the new joint venture with Angelo Gordon. Buying welllocated industrial real estate under $90 per square foot in South Florida is rare given the increaseddemand for industrial in this market. Our goal is to continue buying industrial buildings belowreplacement costs in strong markets as we scale the Florida portfolio. This is our third propertyoccupied by ABC Building Supply and we are excited about expanding our relationship with themin South Florida. Our team is well positioned to scale rapidly over the next 12-18 months, and Ilook forward to the growth that lies ahead. Redfearn Capital is becoming a major player in SouthFlorida commercial real estate and I believe we are in the early stages of our company’sdevelopment.”
