Leste Group and Iconic Equities Form US RE JV on Industrial Outdoor Storage Facilities
Posted on 06/01/2022
Iconic Equities is a privately-held real estate investment and development firm headquartered in Miami. Iconic Equities and Leste Real Estate U.S., the real estate investment strategy of global independent alternative investment manager Leste Group, formed a joint venture backed by institutional capital to acquire US$ 400 million of industrial outdoor storage facilities across the U.S. The joint venture, which is targeting two to three years to deploy capital, recently completed the US$ 9.5 million acquisition of Garnett Storage, a five-acre storage site in Coral Springs, Florida. Designed to meet the complete outdoor storage needs for owners of boats, trailers, motor homes, jet skis and other commercial vehicles in Broward County and surrounding areas, the site is leased to 289 tenants.
Leste Group is based in Miami, Florida.
