An investment fund run by Adler Kawa, an Aventura, Florida-based real estate investment company, has purchased a portfolio of six industrial buildings in Broward and Palm Beach counties from Prologis Sslv Trs Sub 3 LLC, a subsidiary of Prologis, for a combined $38.3 million. Adler Kawa's AKF3 SF Light Industrial acquired the 348,988-square foot portfolio with assistance from KeyBank, which provided a $26 million mortgage for all six properties.
This was the latest deal in a $53 million commercial real estate fund that Adler Kawa recently raised; in 2015 under the same fund, it paid $32.25 million for the Yamato Office Center in Boca Raton. HFF Director Marty Busekrus and Associate Director Jorge Portela represented Prologis in the transaction; full terms of the deal were not disclosed.
Properties in the portfolio include:
5201 NW 33rd Avenue at Prospect Park, a 63,745-square-foot collection of buildings built in 1982;
3301 to 3375 NW 55th Street, another 43,171 square feet built in 1983;
And the following buildings in Boca Raton's Park at Broken Sound and in Delray Beach:
- 1395 NW 17th Avenue, a 50,782-square-foot building built on a 4.7-acre site in 1987
- 1001 NW Broken Sound Parkway, a 41,117-square-foot building built on 5.1 acres in 1980
- 1155 NW Broken Sound Parkway, a 61,491-square-foot building built on 5.2 acres in 1981
- 1225 NW Broken Sound Parkway, a 48,416-square-foot building built on 6.6 acres in 1983
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