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East Capital Pays $18M For Industrial Complex Near Medley
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6950 Northwest 77 Court in Miami-Dade County and Ivy Realty’s Drew DeWitt (Google, Ivy Realty)
Ivy Realty snagged a Miami-Dade County warehouse with cold storage for $26 million, as it continues to expand its South Florida industrial portfolio,
The Real Deal has learned.
The commercial real estate investor bought the property at 6950 Northwest 77th Court from an affiliate of The Apollo Group in a sale-leaseback.
The Apollo Group, a logistics provider to cruise lines, leases the entire property for its headquarters.
JLL said Ivy Realty scored a $17.3 million acquisition loan from a life insurance company to finance the purchase, although the brokerage declined to disclose the lender. JLL’s Melissa Rose secured the seven-year, fixed-rate financing on behalf of Ivy, according to a release.