American Ventures Partners Launches $1B Fund To Invest In Distressed CRE
The new fund will focus on properties valued at more than $50 million and priced below replacement cost.
The new fund will focus on properties valued at more than $50 million and priced below replacement cost.
The building, which is situated on .16 acres, is located in close proximity to Broward General Medical Center and the new Broward County Courthouse.
The site was purchased from Esposito Enterprises Inc., an affiliate of Vinny Esposito, the owner of the staple restaurant Franco & Vinny’s, which will continue to operate on property. There are no current plans underway for redevelopment of the site.
The buyer is one of the largest retail beauty products, wig and human hair extension suppliers in the United States. It owns and operates 22 retail locations throughout the South Florida tri-county area and Tampa.
The purchase price was $17 million.
Here are the most popular news headlines this past week on CRE-sources.
The newly completed buildings are already 100% leased with five tenants.
The buyer is planning a multifamilyn development.
The company is based in Fulton, Maryland.
The lease deals total a combined 32,000 square feet.
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