AG Mortgage Investment Group Redfearn Capital Andover Properties TPG Angelo Gordon Buy Miramar Complex For $33.41M

The industrial property located at 7377, 7401, 7429 & 7451 Riviera Boulevard in the Miramar market comprises a total of 10.5 acres. The asset includes a four-building complex that was sold for a transaction amount of $33,410,000. The property spans 308,332 square feet and was transacted at a price per square foot of $108.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $33,410,000
• Acres: 10.5
• Square Footage: 308,332
• Price per Square Foot: $108
• Buyer: T.J. Durkin - AG Mortgage Investment Group; Alex Redfearn - Redfearn Capital; Brian Cohen - Andover Properties; Josh Baumgarten & Adam Schwartz - TPG Angelo Gordon
• Seller: Jose Mendoza - Megacenter Miramar LLC
• Brokers: Greg Miller, Dominic Montazemi, Anthony Licari, Eric Cantor, Luke Elliott, Mike Mele, Marc Royer, Mike Davis, Rick Brugge, Rick Colon & Chris Metzger - Cushman & Wakefield

The deal involved a strategic acquisition where AG Mortgage Investment Group and Redfearn Capital purchased three industrial/flex buildings for $23,900,000. Meanwhile, Andover Properties and TPG Angelo Gordon acquired a self-storage and office property consisting of 129,000 square feet for $9,510,000. Cushman & Wakefield facilitated the brokerage of the transaction, demonstrating their role in the execution of this multifaceted deal.