3T Equity Partners Announce $9M Purchase of Markham Industrial Complex and $19.5M Refinance of N. Miami Beach Multi Family Property
27 Jul, 2016, 07:00 ET
TORONTO, July 27, 2016 /CNW/ - David Goldstein, Jordan Rich and Lawrence Moskovic of 3T Equity Partners ("3T") are pleased to announce the completion of the purchase of 951 Denison Street, Markham, Ontario (the "Property") by 3T (951 Denison) LP, for a purchase price of $9,018,000. The Property is comprised of 66,350 square feet of prime industrial/office space and is strategically located close to public transit in the heart of Markham's thriving business node. "951 Denison presents an ideal opportunity for 3T to implement its value add program by enhancing the income and overall strength of the Property with the potential for a condominium conversion", said Rich. "We continue to seek responsible "value-add" opportunities in strong markets".
3T is also pleased to announce the refinance of 1572 N.E. 191st Street, North Miami Beach, Florida ("Aventura Oaks"), a multi-family investment comprised of 205 residential units. Terms of the refinance include loan proceeds of $19,500,000 at a 3-year fixed interest rate of 3.1% per annum. "We are extremely happy with the performance of Aventura Oaks which we purchased in March of 2014 for $17,700,000 with a current valuation of $31,000,000", said Moskovic, "We will continue to implement our very successful renovation program".
About 3T Equity Partners
3T Equity Partners was founded in 2010 and is dedicated to acquiring "value-add" income producing properties in mature and growth areas. 3T Equity Partners owns properties in Miami Beach, Atlanta, Toronto, Hamilton, Markham and Waterloo.
SOURCE 3T Equity Partners
For further information: David Goldstein, (416) 850-2305, [email protected]
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