Investcorp Acquires Powerline Business Park In Deerfield Beach For $72.3M

The Powerline Business Park industrial complex in Deerfield Beach has been acquired by Investcorp for $72.3 million, including 14 buildings and a 20.2-acre lake. The property is located at 4100 North Powerline Road and spans 25.4 acres. The transaction took place on January 23, 2024, in the Deerfield Beach market.

Summary of transation details

• Property Type: Industrial
• Transaction Amount: $72,300,000
• Address: 4100 North Powerline Road
• Market: Deerfield Beach
• Acres: 25.4

Rishi Kapoor and Hazem Ben-Gacem from Investcorp represented the buyer in this transaction, while Santos Kreimann and Luis Lugo represented the seller, Los Angeles County Employees Retirement Association (LACERA). The lender for this deal was MetLife Investment Management. It is worth noting that Investcorp has expanded its investments beyond South Florida multifamily properties with this acquisition.