South Florida Business Journal: Apartments near Miami International Airport sell for $13M

Brian BandellJul 20, 2020, 6:20am EDT

A pair of apartment buildings just east of Miami International Airport sold for $13.19 million.

MIA Airport Villas, managed by Jesper Arnoldsson, and G3 Investment Trust, headed by Stephen Gans, sold the 90 apartments at 4325 and 4335 N.W. South Tamiami Canal Drive.

The buyer was Biscayne Plaza II LLC, managed by Javier Cervera of Cervera Real Estate Ventures. Greystone Servicing Co. provided a $9.88 million mortgage to the buyer.

The price equated to $146,556 per unit.

Totaling 67,649 square feet, the two buildings last traded for $8.1 million in 2015.

They were developed on the 1.86-acre site in 1972. They are along a canal that runs alongside the eastern border of the airport.

The Covid-19 pandemic has slowed many real estate deals, but the multifamily market should be strong long term because of the region’s population growth. In fact, this deal positioned Cervera Real Estate Ventures from a commercial investment to multifamily.

In March, Biscayne Plaza II sold 11 commercial condos in Miami’s Edgewater.

Apartments near Miami International Airport sell for $13M

THE REAL DEAL: Javier Cervera buys apartment complex near Miami International Airport

The owner of Cervera Real Estate Ventures acquired two apartment buildings near Miami International Airport for $13.2 million, with plans to redevelop the site for a future development project.

Javier Cervera Jr. purchased the two-building, 90-unit complex known as Airport Villas at 4325 to 4335 Northwest South Tamiami Canal Drive for $147,000 per unit, according to a press release. MIA Airport Villas LLC, led by Jesper Arnoldsson of SMS Lodging, sold the 67,649-square-foot property.

The seller operated the apartments as short-term rentals, and Cervera plans to convert them back to traditional apartments after a renovation, according to the release. Cervera eventually plans to redevelop the site, a spokesperson said.

The purchase was part of a 1031 exchange.

The property, developed in 1972, last sold in 2015 for $8.1 million.

In March, Cervera sold Biscayne Plaza, a 21,000-square-foot retail space at 295 18th Street with a Chase bank as an anchor for $15.45 million.

Cervera Real Estate Ventures owns properties throughout Miami-Dade and Broward counties and focuses on acquiring retail strip centers, rental apartments and warehouses. The Miami-based company is also building two apartment buildings in the Allapattah neighborhood.

We are sad to announce the passing of Javier Cervera Sr.

We are sad to announce the passing of Javier Cervera Sr.

“The love, support and encouragement my father always gave me provided me with the confidence in life to believe in myself and thus start Cervera RE Ventures and make it the successful enterprise it is today. Thanks Dad, I’ll always know your watching over me and providing that support I enjoyed all my life and yours.” Javier Cervera.


JAVIER CERVERA April 13, 1931 – May 24, 2020 On April 13, 1931 born amidst the sugar fields of his beloved Cuba in the family sugar mill of Adelaida, Javier Cervera began his journey of life. The son of Miguel Cervera Falla and Exilda Consuegra Cervera. As a young man, he attended boarding school first at Belen in Havana and then at Florida Military Academy in St. Petersburg, Florida. Upon graduation he pursued his dream of flying and headed to Spartan College of Aeronautics and Technology in Oklahoma. His father would subsequently persuade him to leave the flying academy and return to Cuba to join the family business but not before he negotiated that his return would include having a plane. Flying would be a lifelong passion. In 1953 Alicia Cabada arrived in Havana, the daughter of the Peruvian ambassador. As Javier liked to say he fell in love at first sight. The following summer brought a fairytale June wedding in the gardens of the Peruvian embassy, a 23 year old groom would marry his love and a marriage of 65 years would follow. The coming years would be filled with happiness as Javier and Alicia formed a family. Javier took his city bride to the countryside of Cuba where they built their first home in Jucaral, their sugar plantation. While he tended his family business Javier built a school house for his bride to teach. In the later part of the 1950’s Cuba plunged into a revolution. Always being a lover of freedom and justice Javier became a member of the resistance against Castro. In remembering those times in his later years he said we would hide at home some of the most sought after resistance fighters and recalled with pride that his brave Peruvian wife always supported him. 1961 brought the disastrous Bay of Pigs and as he waited in Cuba to meet the landing forces his time on the Island would come to an end. His resistance group was discovered and by force of destiny he was warned that Castro’s police was on the way to his house to arrest him, thus he immediately departed his home. His father in law’s friendship with the México ambassador secured Javier’s asylum that took Javier and Alicia to Mexico. Once in Mexico they quickly traveled to Miami where they had earlier sent their daughters Veronica and Alicia to their beloved nanny Lala and grandparents. Never one to talk about the past he started to work using his perfect English and his mind for numbers to secure his first job. Soon thereafter Alicia and Mercedes Ferre became friends which resulted in Javier heading Maurice Ferre’s transportation company. As the years passed Javier and Alicia would buy a waterfront property on Brickell just as it was rezoned for high rise development. 1967 brought the birth, in Miami, of his last child, a son Javier Jr.. He went on to develop the Square shopping center in Key Biscayne. Later in life he started an aviation trading company, Ameravia. As Cervera Real Estate grew his daughters say he was the calm stabilizing force of the firm. Sharing with his son a love for farmland, hunting and long walks, Javier bought a farm in Georgia that became their getaway from the city. Fully engaged he encouraged, guided and generously gave of himself to his family and those who often sought his counsel. He particularly enjoyed his grandchildren and participated actively in their lives. Javier had the gift of making one feel like the most important person in the room. His humor, love of people, ability to engage anybody and kindness were his trademarks. Javier had been battling cancer for years and died May 24 at his home surrounded by family. He is survived by his wife of 65 years Alicia, children Veronica and husband Nickel Goeseke, Alicia and husband Alberto Lamadrid and Javier and wife Jennifer Behar Cervera, grand children Alexandra, Caroline and Nickel Goeseke, Alicia Lamadrid Paysse and her husband Juan Paysse, Tony Lamadrid, Javier, Jenna and Jace Cervera, great-grandchildren Juan Mateo and Sofia Paysse his sister Concepcion Cervera, brother Miguel Cervera and niece Sildy Cervera In lieu of flowers and to honor his legacy, please consider a donation to help build a technology center at Javier’s beloved Hogar Clinicia San Juan de Dios children’s hospital in Lima, Peru, donations in Javier’s name can be made at



South Florida’s largest retail sales deals in June

By Keith Larsen | Research by Laura Hanrahan

July 24, 2018 12:30PM



With experts predicting a “retail apocalypse”, South Florida has remained a lone exception. In June, the top retail deals included three traditional shopping centers, a building in South Beach, and the sale of the Metro Mall building in downtown Miami’s jewelry district.

The June investment sales figures were compiled from Miami-Dade, Broward and Palm Beach County property records.



Palms Plaza, Boca Raton – Crow Holdings | $30M

The largest retail sale last month belongs to Crow Holdings Capital Real Estate’s purchase of a shopping center at 22191 Powerline Road in Boca Raton for $30.2 million.

The Dallas-based asset manager paid about $360 per square foot for the roughly 85,000-square-foot shopping center known as the Palms Plaza. Crow Holdings is tied to the family of Dallas real estate developer Trammell Crow. North American Development Group, a Canadian commercial real estate developer, sold the property.

Palms Plaza was built in 1988 and last sold for $18.5 million in 2011. Tenants include Party City, Chase Bank and a standalone Olive Garden restaurant. The 9.4-acre property includes about 400 parking spaces.



Shoppes of Wilton Manors – Grass River Property and Downstream Realty Partners | $21M

Grass River Property and Downstream Realty Partners increased their investment in the Broward town of Wilton Manors. Property records show the partnership paid $21 million, or about $270 per square foot, for a 78,600-square-foot shopping center at 2200 and 2292 Wilton Drive.

The development group plans to renovate the property, securing a $22.8 million loan from Two Harbors Investment Corporation, a subsidiary of Pine River Capital, to finance the project. JLL’s Keith Kurland, Brett Rosenberg and Brandon Krupetsky arranged the financing.

Two companies tied to Rivercrest Realty Investors sold the Shoppes of Wilton Manors. Records show Rivercrest paid $16.6 million for the property in 2007.

Tenants include Sherwin Williams, The Alibi, Ocean Wine & Spirits and Tee Jay Thai Sushi.



Fogo de Chao building, Miami Beach – Baskir Capital Management | $15M

Baskir Capital Management paid $15.25 million for a retail building in Miami Beach’s South-of-Fifth neighborhood, leased to the Brazilian steakhouse Fogo de Chao.

The New York-based private equity firm bought the building at 836 First Street from a partnership controlled by restaurateur Myles Chefetz, Lyle Stern, Nelson Fox and Durfee Day. The seller was represented by HFF’s Danny Finkel and Mark Mandel, in cooperation with Noah Fox of Koniver Stern Group.

The buyer was represented by Marcus & Millichap’s Scott Sandlin and Alex D’Alba. The 12,000-square-foot building hit the market two years ago for $19.5 million. The sellers paid $2.8 million for the building in 2005, records show, and renovated it in 2007.

The restaurant recently extended its lease and now has 10 years remaining. Fogo de Chao has operated there since 2008.

Baskir Capital Management, led by Turkish investor Cengiz Baskir, buys single-tenant type assets nationally. The firm has about $1 billion in assets under management, D’Alba said.



Metro Mall – Yair Levy | $14.5M

Levy’s Time Century Holdings paid $14.5 million for the Metro Mall building, a development site in the heart of downtown Miami’s jewelry district, at 1 Northeast First Street.

Levy plans to renovate the 225,000-square-foot building into a luxury jewelry center. The building, built in 1926, sits on a 33,750-square-foot corner lot that’s zoned for 810,000 square feet, 774 units and at least 80 stories of development. Levy acquired the building’s master lease and 84.2 percent of the land.

Colliers International South Florida’s Mika Mattingly, Gerard Yetming and Linn Ahsberg represented the seller, Metro Mall Limited, which was led by Stanley Goldberg, Judith Jaffe and Joyce Goldberg. Wedad Saad-Anderson of New Capital Realty represented the buyer.

Levy rose to real estate prominence through several high-profile residential condo conversions in Manhattan, but his real estate empire unraveled during the recession. In 2011, he was permanently banned by the New York state Attorney General’s office from selling condos and co-ops in the state, and has largely stayed under the radar since then.



Hialeah shopping center – Cervera Real Estate Ventures | $11M

Cervera Real Estate Ventures paid $11.3 million or $150 per square foot for a shopping center at 3800 West 12th Avenue in Hialeah, with plans to reposition and renovate the property.

The seller is an affiliate of Leon Medical Centers, which paid $11 million for the 74,350-square-foot building in 2015. The seller originally intended to convert the property into a medical center, Javier Cervera said.

The two-story retail plaza, built in 1984 on a 3-acre site, sold at about 85 percent leased.

Cervera’s company owns and manages a number of retail shopping centers, apartment buildings and warehouses throughout South Florida. He’s part of the Cervera family’s second generation, along with his sisters Alicia Cervera Lamadrid and Veronica Cervera Goeseke.

Cervera Real Estate Ventures buys Hialeah shopping center

Cervera Real Estate Ventures buys Hialeah shopping center, plans renovations

Seller originally planned to convert property into a medical center
By Amanda Rabines | July 10, 2018 10:30AM

Cervera R.E. Ventures is entering Hialeah’s hot commercial market.

The company just paid $11.3 million for a shopping center at 3800 West 12th Avenue, with plans to reposition and renovate the property, President Javier Cervera Jr. said. It’s the company’s first acquisition in the city.

The seller is an affiliate of Leon Medical Centers. Records show W 12th Ave Investment, led by Michael Shealy, bought the building in 2015 for $11 million. The seller originally intended to convert the property into a medical center, but plans fell through after it expanded one of its existing centers, Cervera said.

The 74,350-square-foot retail property traded hands for about $150 per square foot. It sold about 85 percent leased to a mix of restaurant tenants and some small medical offices. Other tenants include a dance studio, a karate studio, a beauty salon and a day care.

The two-story retail plaza, built in 1984, sits on nearly 3 acres of land along Ludlam Road. The shopping plaza is near the newly completed 226-unit multifamily complex at 3500 West Ninth Avenue, developed in partnership with CFH Group and the Cayon Group.

Cervera’s company owns and manages a number of retail shopping centers, apartment buildings and warehouses throughout South Florida. He’s part of the Cervera family’s second generation, along with his sisters Alicia Cervera Lamadrid and Veronica Cervera Goeseke.

Cervera said the company plans to pick up more property in the area. It’s currently under contract to purchase a portfolio of industrial properties nearby for $2.6 million.

The area is hot with industrial activity, as investors and developers are capitalizing on its proximity to Miami International Airport.

Cervera R.E. Ventures is also under contract to sell a 1.42 acre stretch of land in Miami’s Arts & Entertainment District for $30 million to MRR Development, a new firm led by Rotem Rosen, Jerry Rotonda and billionaire Anand Mahindra.

Cervera Real Estate Ventures Acquires New Shopping Center in Booming Broward

Cervera Real Estate Ventures acquires new shopping center and Burger King out-parcel for $4 million on West Commerical Blvd. in Broward with big plans to buy more property and drive market value in the area.


Javier Cervera, owner of Cervera Real Estate Ventures (Cervera REV) and a group of partners recently added another prominent retail shopping center to their real estate portfolio. Cervera, a member of the well-known Miami real estate family, and his partners recently acquired Nichols Plaza that includes a freestanding Burger King. The commercial shopping center will be renamed West Com Plaza due to its convenient location in Broward County, directly on West Commercial Blvd near the Ft. Lauderdale Executive Airport and Interstate 95.

Despite high demand for the strip center, in less than 60 days Cervera was able to make an offer, coordinate building inspections, handle necessary due diligence and close on the property. The shopping center was purchased for $4 million for 25,000 square feet, including the Burger King out-parcel. Prime real estate, West Com Plaza is surrounded by businesses, multifamily and single family residences.

Offering a diligent hands-on operation at West Com, Cervera has immediate plans to give his new strip center the necessary upgrades to help raise the value of the building and upgrade tenancy. His operations team includes maintenance, management and a renovation crew.

“We have a diverse tenant mix at West Com Plaza offering beneficial uses for the area,” said Javier Cervera, owner of Cervera Real Estate Ventures. “The surrounding area is booming in Broward and I’m looking to buy more income producing properties.”

Cervera Real Estate Ventures, a private company based in Miami, FL is actively acquiring income producing properties such as retail shopping centers, apartment buildings and warehouses. With proven management strategies, Cervera is looking for assets that will add value as a part of their ongoing acquisition plan. The investment group is primarily looking for commercial property in Dade and Broward counties that will help grow his partnerships with the acquisition of more income producing properties made available through his vast network of real estate brokers and owners. He offers his partners opportunities they might not be able to find on their own by bringing real estate expertise and unparalleled value in increased returns with efficient operations.

For more information about Cervera Real Estate Ventures and West Com Plaza (previously Nichols Plaza), please contact Sergio Quinonez at 305-374-6744. For more information, please visit


Javier Cervera, Principal of Cervera Real Estate Ventures, Acquires Retail Shopping Center in Westchester for $5.2M; Prominent Medical Anchor Tenant Renews Lease

gall shopsA partnership associated with Javier Cervera, a real estate investor and member of the well-known Miami real estate family, has just acquired a 31,000 SF, retail shopping center in Westchester. The buyer, GALLO SHOPS, LLC, acquired the property for $5.2M on August 23rd. This is the latest in a series of acquisitions by Cervera R.E. Ventures, which has been actively acquiring properties in Miami-Dade and Broward counties.

As part of the acquisition, CREV worked with the sellers to navigate various complexities unique to this deal. After 5 months of hard work, they were able to close this complicated transaction. One said challenge involved the renegotiation of a new long-term lease for Leon Medical Centers, who had been occupying the property for decades with their second longest operating location in Miami. A new lease is now in place which is advantageous to both parties.

“We are excited to have found this off-market opportunity in one of Miami’s thriving neighborhoods, where our expertise in management will surely increase the value of the property,” said Mr. Cervera, “In addition, we are thrilled to have Leon Medical Centers, one of Miami’s premier medical service providers, as our anchor tenant in this most recent acquisition for our ever growing portfolio of income producing properties.”

Through his vast network of brokers and other real estate professionals, Cervera was able to find this off-market opportunity and provide a decisive offer to acquire the center before it hit the retail market.

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Javier Cervera, Principal of Cervera Real Estate Ventures, Acquires 56-Units for $4.9M; Second Acquisition in One Month

Three-Kings-On-135thA 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.

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