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Adir Levitas Of Faropoint Ventures Acquires Industrial Portfolio From Dwight Angelini For $24.45M
SOLD
$24,450,000
Florida
See Similar DealsIndustrial580,928 SF
Sold 01/21/2026
SOLD
Adir Levitas Of Faropoint Ventures Acquires Industrial Portfolio From Dwight Angelini For $24.45M
13290 Northwest 45th Avenue, 13230 Northwest 45th Avenue, 15907 Northwest 52nd Avenue & 14025 Northwest 58th Court
See Similar DealsIndustrial580,928 SF
Sold 01/21/2026
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$42
Total Square Footage:580,928 SF
Transaction Type:Sale
Longpoint Partners sold an industrial portfolio comprising properties located at 13290 Northwest 45th Avenue, 13230 Northwest 45th Avenue, 15907 Northwest 52nd Avenue, and 14025 Northwest 58th Court for $24.45 million. The total square footage of the assets is 145,232 square feet, translating to a price per square foot of $168. These properties are situated in the markets of Opa Locka, Miami Gardens, and Miami Lakes, and they were built between 1966 and 1982.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $24,450,000
- Square Footage: 145,232
- Price Per Square Foot: $168
- Buyer: Adir Levitas - Faropoint Ventures
- Seller: Dwight Angelini - Longpoint Partners
- Market: Opa Locka, Miami Gardens & Miami Lakes
Adir Levitas represented Faropoint Ventures in the transaction, while Dwight Angelini represented Longpoint Partners. The sale marks a strategic shift for Longpoint Partners as it reverses their recent buying trend in the market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,303,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$86,865.69
Cash-on-Cash Return-1.27%
Monthly Debt Service$115,905.47
Annual Debt Service$1,390,865.69
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