CHARLOTTE—Adler Kawa Real Estate Advisors (AKREA), a real estate investment firm created through a joint venture between Adler Group and Kawa Capital Management, just snapped up Carmel Executive Park. The asset is 95% leased.

AKREA purchased the six-building property from Pizzagalli Properties, which originally developed the business park in 1990. Patrick Gildea, vice president, and Ryan Clutter, executive vice president with CBRE, marketed the property on behalf of the seller.

“Carmel Executive Park offers strong in-place cash flow, a stable and diverse tenant roster, and a market with favorable demographics, making this a model investment for Adler Kawa Real Estate Fund II,” says Matthew L. Adler, president and CEO of AKREA. “Our plan is to focus on renewing the property's existing tenant base while investing in capital improvements.”