KPREIT Expands Property Portfolio With Funds Raised from Rights Issue

On October 21, 2015 Kingston Properties advised that it had completed the purchase of real estate properties with the funds raised during its Rights Offer. This includes the purchase of 5 condominium apartments at the Midblock located in midtown Miami at 3301 NE 1st Avenue for a purchase price of $2.2 million. Midblock is within 10 minutes from cultural venues including Adrienne Arsht Center for the Performing Arts, New World Symphony, Perez Art Museum Miami, American Airlines Arena, downtown, Miami and Miami Beach and a plethora of shops and restaurants. Amenities at the apartments include generous private terraces, appliances, walk-in closets, full sized washer/dryer, custom wood cabinetry and stone counter tops. Kingston Properties also purchased 4 condominium apartments for $3.1 million at The Residences at W Fort Lauderdale located close to Ft. Lauderdale`s vibrant Downtown, Las Olas and Riverfront Place.

 

These fully furnished apartments have access to spa services, a fitness center, swimming pools, oceanfront dining, miles of sandy beachfront and the full complement of services that the 5-star W hotel offers.