KEI expands North Miami-Dade holdings with Aldi-anchored center

KEI Properties added to its North Miami-Dade County holdings after paying $22.5 million for an Aldi-anchored shopping center, as well as taking over a mortgage for the same amount. Three affiliates of North Miami-based KEI, led by Kenneth Israel, bought Palmetto Plaza at 15905, 16101, 16301, and 16341 Northwest 57th Avenue, records show. KEI also assumed a $22.5 million commercial mortgage-backed securities loan from Wilmington Trust, as trustee for Wells Fargo. Israel signed as a personal guarantor.  Douglas Mandel and Zach Levine with Marcus & Millichap brokered the deal, a press release states. The seller is a joint venture between […]This article originally appeared on The Real Deal. Click here to read the full story.