MIAMI—Adler Kawa Real Estate Advisors, or AKREA, just re-entered the South Florida commercial real estate market. The real estate investment firm snapped up Yamato Office Center in Boca Raton, FL. The sale price: $32.5 million.
The deal marks AKREA's second acquisition in Fund III, which launched earlier this year and has raised $53 million in new capital. The purchase follows Fund III's first acquisition of a three building light industrial portfolio, South Point Business Park in Charlotte.
"South Florida has always been a targeted market due to its dynamic growth story and we are thrilled to purchase a property in Boca Raton that perfectly meets our cash flow strategy," says Matthew Adler, president and CEO of AKREA. A diverse tenant mix including Promise Healthcare, MoreDirect, and Homes Media E-Neighborhoods make up the roster.
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