Baptist Kendall Shops

Kendall Baptist Shops was acquired through a short sale, following successful negotiations with the lender and owner, resulting in a discounted purchase price. The property had suffered from mismanagement and a lack of direction, but once Cervera Real Estate Ventures (C-REV) took ownership, income increased substantially, and the property’s value appreciated threefold.

Located in one of Miami’s most populous neighborhoods, Kendall, this income-producing retail shopping center featured below-market rents, presenting a clear opportunity to raise rents to market levels. The property, being relatively new, had minimal deferred maintenance, and many tenants were on expired or soon-to-expire leases at the time of acquisition. This allowed C-REV to not only adjust rents but also introduce triple-net (NNN) leases, wherein tenants cover real estate taxes, insurance, and operating costs—further increasing profitability.