A partnership associated with Javier Cervera, a real estate investor and member of the well-known Miami real estate family, has just acquired an additional 56-units in North Miami. The buyer, THREE KINGS ON 135TH, LLC, acquired the property for $4.9M on Wednesday, December 30th, 2015. This is the latest in a series of acquisitions by Cervera, and the second purchase made by the investor in December of 2015.
“Our business model is to acquire properties that have dependable returns, with high growth, through increased income and appreciation. We concentrate on adding assets to our portfolio, that have strong core fundamentals, which persevere through all market cycles. “
Cervera has positioned himself to add to his ever growing portfolio of income producing properties, by continuing to draw upon his intimate knowledge of the South Florida real estate market. With the various resources available to him, his company has continued to thrive and grow, with a bright future ahead.
The property, known as Three Kings, is located in North Miami, just three blocks west of Biscayne Boulevard (US-1). It was built in 1963 and consists of 56 units across 3 buildings. North Miami is home to several universities including Johnson & Wales University, located a few blocks south of the property, Florida International University’s Biscayne Bay Campus, a few blocks northeast, and Barry University, southwest of the property.