Dandiyas Sell Jupiter Schools to Freeport Equity

Freeport Fairness purchased a pair of Montessori colleges in Jupiter for a mixed $12.9 million. 

The Boston-based agency purchased two Turtle River Montessori colleges, at 740 West Indiantown Street and 926 Maplewood Drive, in separate offers from Rohit and Bharati Dandiya, in keeping with information and actual property database Vizzda. Freeport took out an $8.4 million cross-collateralized mortgage from Amerant Financial institution. 

Accomplished in 1997, the college on Indiantown Street consists of a one-story, 11,000-square-foot constructing on 1.2 acres, Vizzda information present. It provides packages for youngsters from 18 months to kindergarten. Freeport paid $4.3 million for the property. 

The varsity on Maplewood Drive, accomplished in 2009, consists of a two-story, 19,400-square-foot constructing on 1.8 acres, in keeping with Vizzda. It provides packages from elementary to center college.

Freeport paid $8.6 million for the property. 

Led by Renzo Pisa and Nicholas Kling, Freeport is an funding and administration agency centered on education-related actual property, its web site exhibits. Its portfolio consists of 10 properties leased to Endeavor Colleges, in Colorado, Georgia, Maryland, South Carolina, Texas and Virginia. Freeport plans to buy as much as 50 colleges by 2025, in keeping with its web site. 

The deal comes amid slowing industrial actual property funding gross sales on account of greater financing prices. Whereas purchases of training actual property have been particularly muted in South Florida, some colleges traded as a part of bigger offers that included adjoining spiritual teams’ actual property. 

In April, Westminster Christian College purchased the Dawn College of Miami at 14920 Southwest 67th Avenue in Palmetto Bay, together with the adjoining Christ Congregational Church for $10 million. 

Aventura-based MG3 Group, a constitution college developer, went on a faculty promoting spree previous to rising financing prices. In 2021, MG3 offered the Everglades Preparatory Academy center college at 2251 Mowry Drive in Homestead for $27.2 million, and the Avant Garde Academy at 2025 McKinley Road in Hollywood for $50.4 million. The gross sales have been a part of a $242 million sale of eight colleges throughout Florida. 

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