Each of us are on our own journey, different goals – different strategies and in different cycles of growth as we progress along our path to achieve our planned success.
Trimming and pruning usually leads to a better looking and healthier garden. Sometimes you out grow certain investments or they are no longer a meaningful part of your portfolio. So there are good reasons at times to sell off certain assets, other than the need for money or a failing/weak property ( in an area/category that is not your organization’s strength). Many reasons why companies do the things they do may not be readily apparent. Accordingly while some are selling others are buying for reasons that work to achieve their business/investment goals.
Having a plan with a timeline as a tool you can bench mark against your progress and will help you refine your journey – being flexible, to adjust to new information/challenges and results. And being lean enough to be able to manoeuvre your company and investments around the challenges you may face.
“AEW Capital Management LP, a leading real estate investment advisor, has acquired the 4.2 million-square-foot, 33-property Flagler Station industrial park in Miami and Medley, FL from Flagler, Florida’s largest full-service commercial real estate firm, for approximately $340 million; a price that equates to roughly $81 per square foot. AEW took ownership with its first open-end core real estate fund, AEW Core Property Trust (US).
Flagler Station is South Florida’s largest business park, located within Miami-Dade County’s Airport West Industrial submarket. The class-A office and industrial spaceopened in a master-planned campus starting in 2001, and is leased to numerous tenants including Ryder Systems, Lagasse, FedEx and BrightStar, along with recent leases signed with Betty Dain Creations and Crowley.” (costar)
AEW has retained Flagler, a subsidiary of Fortress Investment Group, to continue to manage and lease the portfolio. Flagler will also retain ownership of close to 150 acres of undeveloped land in and around the park for future development, which could top roughly 2.4 million square feet.
“Flagler owns, manages, leases or has under development roughly 22 million square feet of office and industrial space throughout Florida. In addition, the firm owns 5,000 acres across the state, of which 1,650 acres is entitled for future development that could raise to 35 million square feet of development, with several sites marketed by Colliers International. As of December 31, 2011, AEW manages or advises owners with $33 billion in capital invested in $47 billion in property and securities around the globe.” (costar)
“AEW has a long history of investing in Southeast Florida, and this latest acquisition illustrates our belief in the strength of the Miami/Medley market, which services the Port of Miami, Miami International Airport and Port Everglades,” said Dan Bradley, senior portfolio manager for the AEW Core Property Trust. “Moreover, it is an added benefit that Flagler will stay on to manage and lease these properties and help grow the value of these assets.”
Both parties were represented in-house in this sale, which closed.
Investing for income / cash flow, investing for capital growth – appreciation, or investing to position
one’s self in an area, street for development purposes or for a future flip/leveraged opportunity.
Or simply buy and hold for a long long time. Whatever your plan and program to build your real estate empire.
What are your thoughts, share your comments?
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