Javier Cervera Jr. buys apartment complex near Miami International Airport

Deal breaks down to $147K per apartment

TRD MIAMI /
Jul.July 16, 2020 04:30 PM
Javier Cervera and Airport Villas 

Javier Cervera Jr. and Airport Villas

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.


Related Articles

arrow_forward_ios
Cervera's new office at Murano at Portofino and Alicia Cervera Lamadrid (Cervera)

Cervera opens new Miami Beach office in South-of-Fifth

Cervera opens new Miami Beach office in South-of-Fifth
Ron Bergeron with 3310 Northwest 24th Street (Credit: Facebook and Google Maps)

“Alligator Ron” Bergeron sells properties near Miami airport to Prologis

“Alligator Ron” Bergeron sells properties near Miami airport to Prologis
 Javier Cervera Sr.

Javier Cervera Sr., who helped his wife form Miami brokerage after fleeing Cuba, dies

Javier Cervera Sr., who helped his wife form Miami brokerage after fleeing Cuba, dies
(Credit: Redwood Media Group)

Developers and brokerages are getting creative for Art Basel

Developers and brokerages are getting creative for Art Basel
Karen Elmir, Camilo Franco, and Caitlyn Henderson

Movers & Shakers: Elmir Group launches CRE division, Pablo Alfaro team grows

Movers & Shakers: Elmir Group launches CRE division, Pablo Alfaro team grows
Former Cervera Real Estate agent Beatriz Santamaria

Ex-Cervera agent sues for unpaid wages, seeks class action

Ex-Cervera agent sues for unpaid wages, seeks class action
Rendering of Elysee

Elysee PH under contract for nearly $13M, setting new record in Edgewater

Elysee PH under contract for nearly $13M, setting new record in Edgewater
Rendering of Ivory 214 and Bernardo Rieber

The doctor will see you soon: developer scores $36M loan for medical office condos

The doctor will see you soon: developer scores $36M loan for medical office condos
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...