Ali Ahmed Of Automall Acquires Retail Properties In Miami Gardens For $35.49M From Rogelio Tovar

The asset involved in this transaction comprises two retail properties located at 16845 Northwest 57th Avenue and 16725 Northwest 57th Avenue in Miami Gardens, FL. The total sale price for the properties was $35,490,000, covering an area of 103,871 square feet across 8.9 acres. The price per square foot stands at $342.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $35,490,000
• Buyer: Ali Ahmed - Automall
• Seller: Rogelio Tovar - VW1 LLC & NM1 LLC
• Lender: Ally Bank
• Properties Sold: 62,804-square-foot Volkswagen dealership for $24 million; 41,067-square-foot Nissan dealership for $11.49 million.
• Financing Amount: $36.47 million from Ally Bank

Ali Ahmed, the principal of Miami Lakes Automall, was involved in the acquisition of the two automotive dealerships. The seller, Rogelio Tovar, represented his entities, responsible for the sale of the automotive properties comprising a Volkswagen and a Nissan dealership.