Indigo Properties and Linkvest Capital today announced the acquisition of an eight-acre development site located at N.W. 138th Street and N.W. 107th Avenue in Hialeah Gardens, FL for approximately $5.83 million. Through the entity Linkvest HG, LLC, the buyers acquired the site from The Alan Kombluh Revocable Trust, The Harris Family Living Trust and The Sidney Crown Revocable Trust. Closing took place Aug. 21st.
Through a strategic partnership, Indigo Properties and Linkvest Capital plan to develop a vibrant mixed-use project comprising several free-standing retail parcels and a proposed storage facility, enhancing the local community and addressing the growing demand for commercial needs in the area.
Led by industry veteran Alex Sanchez, Indigo Properties brings over 25 years of real estate experience to this collaboration. The partnership leverages the synergies of both teams, who have previously worked together on over a dozen successful commercial projects and acquisitions across the southeast and marks the continuation of their co-investment strategy in commercial real estate.
“This acquisition echoes our commitment to the community, responding to commercial demands with strategic investment,” stated Alex Sanchez, founder and president, Indigo Properties.
“Our history of successful collaboration with Indigo Properties sets the stage for this new chapter, and we look forward to working together to help infuse this area with a dynamic mix of tenants,” added Camilo Niño, principal, Linkvest Capital.
The site is ideally situated at a signalized corner intersection and boasts approximately 1,300 linear feet of frontage on N.W. 138th Street with recent traffic counts of over 26,000 vehicles daily. Northwest 107th Avenue is fully approved for lane expansion to accommodate several million square feet of new industrial development to the north of the property. The intersection is the ideal hub for a plethora of retail tenants.
“This project will replace a long-neglected site at a key intersection and help improve the quality of life for many residents,” said Day Pitney Attorney Daniel “Danny” Diaz Leyva, who represented Linkvest HG LLC in the deal. “The joint venture’s vision and experience will deliver a project that will help expand the city’s tax base and bring much-needed quality retail to the neighborhood. I am excited to be a part of a seasoned team of developers.”
Recent years have witnessed remarkable development in the area, highlighted by the construction of numerous apartment complexes, townhomes and industrial expansion. This accelerated growth has led to the construction, permitting, or initiation of more than 4,000 new homes within a two-mile radius of the development site. Notably, the area has also attracted prominent retailers, employers and distribution centers including Boeing repair warehouses and CGI impact window distributors.
The Hialeah Gardens submarket is bounded by I-75, Hialeah Gardens Blvd, SR 27, and the Florida Turnpike. Within a half-mile radius, prominent commercial establishments such as Publix, Home Depot, TJ Maxx, Home Goods and Burlington contribute to the area’s growth. Additionally, with a median household income of $87,091 within a 1-mile radius, the project is well-positioned to attract national retail tenants seeking to connect with an affluent consumer base. The site’s accessibility is enhanced by its proximity to key transportation routes. Less than a mile from Okeechobee Road and with quick access to the Florida Turnpike, the site is strategically positioned to serve the expanding population in the surrounding areas.
Indigo Properties and Linkvest Capital are committed to delivering a transformative mixed-use project that aligns with the evolving needs of the community and capitalizes on the flourishing growth in the Hialeah Gardens submarket. For more information, please visit indigoprop.com or linkvestcapital.com.
About Linkvest Capital
Linkvest Capital is an alternative co-investment platform based in Miami that specializes in financing, acquisition, and development entities. As a prominent firm in its field, Linkvest Capital has invested over $1 billion in alternative investments, solidifying its position as a trusted and successful investment platform. The firm has a team of trusted professionals dedicated to identifying, analyzing, structuring, operating, and co-investing in alternative opportunities for investors, institutions, partners, and the Linkvest team. Linkvest Capital comprises three entities: LV Lending, Linkvest Properties, and LV Development. LV Lending focuses on providing real estate business and investment mortgage loans for residential and commercial properties, with a current portfolio of over $350 million and having serviced more than 560 bridge loans for over $800 million in Florida and Georgia. The acquisition unit focuses on commercial real estate acquisitions and has invested more than $100 million in the southeast United States region, operating a portfolio of over $38 million. The development unit has co-invested over $100 million in partnerships with real estate developers on multifamily and mixed-use projects in Florida, participating in more than 20 real estate development projects, two of which were completed in 2020 and sold in 2021. The remaining projects are expected to deliver over 3,000 apartments and more than 140,000 square feet of commercial space within the next three years. For more information, please visit www.linkvestcapital.com.
About Indigo Properties
Founded in 1996 by seasoned real estate veteran Alex G. Sanchez, Indigo Properties is a privately held real estate firm that actively develops single and multi-tenant retail projects for nationally recognized retailers. The firm primarily focuses on prime retail, single-use, and net developments for tenants with strong credit, and also participates in value-add opportunities in the office and industrial product categories. Indigo Properties prides itself on its consistent growth and capital preservation, investing in strategic real estate assets. For more information, visit www.indigoprop.com.
About Day Pitney LLP
Day Pitney, an East Coast-based law firm with national and international reach, has more than 300 attorneys in 13 offices in Boston, Connecticut, Florida, New Jersey, New York, Providence, and Washington, DC. The firm offers clients strong corporate and litigation practices, with experience on behalf of large national and international corporations, as well as emerging and middle-market companies. With one of the largest and most sophisticated private client practices in the country, the firm also has extensive experience helping individuals and their families, fiduciaries and tax-exempt entities plan for the future.