MIAMI—A 350,000-square-foot portfolio of light industrial and office buildings across Broward and Palm Beach counties has traded hands. Adler Kawa Real Estate Advisors snapped up the 18-building portfolio, which a diverse tenant mix occupies, for an undisclosed amount.

The deal marks the firm's third acquisition in the Adler Kawa Real Estate Fund III, which launched earlier this year. The fund focuses on purchasing multi-tenant industrial and office assets in US markets.

Adler has raised $77 million for the fund since it launched earlier this year. The purchase of the South Florida portfolio follows Fund III's recent acquisition of Yamato Office Center in Boca Raton. Financial terms were not disclosed.

“Despite the volatility in the public markets our property portfolio which includes over 5 million square feet in 10 major markets with high demographic growth, is at its highest occupancy point since 2008,” Matthew Adler, president and CEO of AKREA. “We continue to maintain a high renewal ratio on expiring tenants in a significantly diversified portfolio with tenants in every industry. In population growth markets we anticipate seeing continued occupancy and rent growth for the remainder of the year.”

HFF director Marty Busekrus and associate director Jorge Portela represented the seller in the South Florida Portfolio transaction. KeyBank provided the financing.

The office and industrial portfolio includes three properties. Delray Park of Commerce in Delray Beach, FL, The Park at Broken Sound in Boca Raton, FL, and Prospect Park I & II in Fort Lauderdale are part of the deal.

Delray Park of Commerce is a single building asset comprising 50,000 square feet of office and warehouse space. The property is two miles from the ocean and is situated just off Congress Avenue with convenient access to Interstate 95.

The portfolio includes three buildings in the Park of Broken Sound—formerly Arvidia Park of Commerce—which spans about 155,000 square feet. The properties are located less than one mile west of the Interstate 95-Yamato Road Interchange in Boca Raton. The Palm Beach County sub-market contains 8.75 million square feet of office-research-flex properties over 850 acres and is also the location of AKREA's Yamato Office Center asset.

Prospect Park I & II is a 14 building, 145,000 square foot office and warehouse park located just off Commercial Boulevard in Fort Lauderdale. Prospect Park offers tenants access to both Interstate 95 and the Florida Turnpike and is only a few miles from Fort Lauderdale Executive Airport.

The management team's previous funds, Adler Kawa Real Estate Fund I and II, completed 16 transactions valued at more than $650 million and acquired assets totaling more than 7 million square feet. AKREA's predecessor organization, Adler Group has been developing and investing in South Florida for almost 60 years.

MIAMI—A 350,000-square-foot portfolio of light industrial and office buildings across Broward and Palm Beach counties has traded hands. Adler Kawa Real Estate Advisors snapped up the 18-building portfolio, which a diverse tenant mix occupies, for an undisclosed amount.

The deal marks the firm's third acquisition in the Adler Kawa Real Estate Fund III, which launched earlier this year. The fund focuses on purchasing multi-tenant industrial and office assets in US markets.

Adler has raised $77 million for the fund since it launched earlier this year. The purchase of the South Florida portfolio follows Fund III's recent acquisition of Yamato Office Center in Boca Raton. Financial terms were not disclosed.

“Despite the volatility in the public markets our property portfolio which includes over 5 million square feet in 10 major markets with high demographic growth, is at its highest occupancy point since 2008,” Matthew Adler, president and CEO of AKREA. “We continue to maintain a high renewal ratio on expiring tenants in a significantly diversified portfolio with tenants in every industry. In population growth markets we anticipate seeing continued occupancy and rent growth for the remainder of the year.”

HFF director Marty Busekrus and associate director Jorge Portela represented the seller in the South Florida Portfolio transaction. KeyBank provided the financing.

The office and industrial portfolio includes three properties. Delray Park of Commerce in Delray Beach, FL, The Park at Broken Sound in Boca Raton, FL, and Prospect Park I & II in Fort Lauderdale are part of the deal.

Delray Park of Commerce is a single building asset comprising 50,000 square feet of office and warehouse space. The property is two miles from the ocean and is situated just off Congress Avenue with convenient access to Interstate 95.

The portfolio includes three buildings in the Park of Broken Sound—formerly Arvidia Park of Commerce—which spans about 155,000 square feet. The properties are located less than one mile west of the Interstate 95-Yamato Road Interchange in Boca Raton. The Palm Beach County sub-market contains 8.75 million square feet of office-research-flex properties over 850 acres and is also the location of AKREA's Yamato Office Center asset.

Prospect Park I & II is a 14 building, 145,000 square foot office and warehouse park located just off Commercial Boulevard in Fort Lauderdale. Prospect Park offers tenants access to both Interstate 95 and the Florida Turnpike and is only a few miles from Fort Lauderdale Executive Airport.

The management team's previous funds, Adler Kawa Real Estate Fund I and II, completed 16 transactions valued at more than $650 million and acquired assets totaling more than 7 million square feet. AKREA's predecessor organization, Adler Group has been developing and investing in South Florida for almost 60 years.