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2050 Ave A Kissimmee, Fl 34...

Fortress Investment Group Acquires Kissimmee Industrial Property For $13.8M
SOLDIndustrial

Fortress Investment Group Acquires Kissimmee Industrial Property For $13.8M

2050 Ave A Kissimmee, Fl 34758, Usa

$13,800,000

$113/SF

Building Size

121,488 SF

Asset Type

Industrial

Closing

Jul 24, 2023

AI

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

Buyer

$606.3M

vol

7 deals

Buyer
Fortress Investment Group
Fortress Investment GroupLender

Miami Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.15%

Cash-on-Cash

-0.33%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93