A partnership associated with Javier Cervera, of the well-known Miami real estate family, has just acquired a 24-unit apartment complex near Miami International Airport. The buyer, Airport View II, LLC, acquired the property for $1,825,000 on Wednesday, November 9th. Mercantil Commercebank financed the transaction. This is the latest in a series of acquisitions by Cervera Real Estate Ventures, a company founded by Mr. Cervera.
“Our company is focused on acquiring profitable, income producing assets for our portfolio, while also shaping the community by providing clean and quality homes for our residences,” said Cervera. “This building is a perfect opportunity for this type of venture.”
The building, located at 4271 NW South Tamiami Canal Drive, was built in 1971 and consists of 24 units, to the east of Miami International Airport and west of Melreese Golf Course, in the neighborhood known as Flagami (a combination of Flagler & Tamiami).
Robert Adams, a real estate attorney, and Carlos O. Rovira, a real estate broker, are minority partners in the building. Rovira Realty brokered the transaction, representing the buyer.