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Fortress Investment Group Acquires Kissimmee Industrial Property For $13.8M

Property Image
SOLD
$13,800,000

Florida

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Industrial121,488 SF
Sold 07/24/2023
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Property Image
SOLD

Fortress Investment Group Acquires Kissimmee Industrial Property For $13.8M

2050 Ave A Kissimmee, Fl 34758, Usa

See Similar Deals
Industrial121,488 SF
Sold 07/24/2023
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$113
Total Square Footage:121,488 SF
Transaction Type:Sale

A 24.3-acre industrial property located at 2050 Avenue A in Kissimmee has been sold for $13.8 million. The property includes a 121,488-square-foot building and was acquired by Fortress Investment Group, whose representative in the transaction is Peter L. Briger, Jr. The seller of the property is Nursery Supplies Inc.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $13,800,000
  • Address: 2050 Avenue A
  • Market: Kissimmee
  • Acres: 24.3

Fortress Investment Group, the parent company of Brightline intercity train, acquired the Kissimmee property from Nursery Supplies Inc., following a significant fire incident. Prior to this acquisition, the property had been sold by Lincolnshire Management Inc. to Mill Point Capital.

Players

Pete Briger
Fortress Investment Group
Pete Briger
7 deals$606.3M volume
BUYER
Fortress Investment Group
Fortress Investment Group
LENDER

Details

SOLD
IMAGE: Peter L. Briger, Jr. DATE: 07/24/2023 ADDRESS: 2050 Avenue A MARKET: Kissimmee ASSET TYPE: Industrial ~ ACRES: 24.3 BUYER: Fortress Investment Group - Peter L. Briger, Jr. SELLER: Nursery Supplies Inc. SALE PRICE: $13,800,000 SF: 121,488 ~ PPSF: $114 NOTE: Fortress Investment Group, parent company of Brightline intercity train, acquired a Kissimmee property for $13.8 million from Nursery Supplies Inc., which had previously suffered a significant fire. The 24.3-acre property includes a 121,488-square-foot building and was sold by Lincolnshire Management Inc. to Mill Point Capital before the recent acquisition.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$736,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$49,028.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$65,419.04
Annual Debt Service$785,028.49