Redfearn Capital Acquires 84,400-Sq.-Ft. Industrial Building in South Florida

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DELRAY BEACH, FL -May 5, 2021- – Redfearn Capital LLC (www.redfearncapital.com),
a full service private real estate investment firm with assets valued at more than $300 million,
announced today the $8 million ($94.79 psf) acquisition of 400 Enterprise Dr, an 84,400 square
foot industrial building located in Port St Lucie, FL. This acquisition represents Redfearn Capital’s
first closing in 2021. Redfearn Capital recently signed a joint venture with Angelo Gordon (“AG”),
a $43 billion private equity firm based in New York City, to acquire select industrial properties
throughout Florida. The acquisition of 400 Enterprise Drive is the first property with AG and the
joint venture currently has another two industrial properties under contract and expected to close
in May 2021.

Located at 400 Enterprise Drive, the Property consists of one single story Class B industrial
building totaling 84,400 square feet situated on over 5.1 acres. Enterprise Drive is extremely well
located west of I-95 off St Lucie West Blvd in the densely populated Industrial Park which has
historically low vacancy and great access to I-95. The Property has sixteen (16) loading docks with
10’ x 12’ overhead access doors and 10’ X 12’ grade level loading doors. The property has a
private secured fenced in storage yard on the west portion of the property and has 24’ clear heights.

Alex Redfearn, Principal and Founder of Redfearn Capital remarked, “The acquisition of 400
Enterprise Drive kicks off our new joint venture with Angelo Gordon. We believe having an
institution like Angelo Gordon as our capital partner, and our operating team as the sponsor, puts
us in position to scale the platform aggressively over the next 24 months. Our team has two more
value add industrial properties under contract that are scheduled to close in May 2021.

While we were under contract on 400 Enterprise Drive, our team was able to renew the only tenant
in the building, Trane Inc (NYSE: TT) for an additional five (5) years at fair market value and

modify their lease for future renewals. Trane was set to expire in July 2021 and the building would
be 100% vacant. Since we executed on the Trane renewal, we have been approached by multiple
credit tenants to lease the balance of the building (40,500 square feet) which would bring the
building occupancy to 100%. Once again, our team has executed on an off market industrial deal
in a growing market. I am thrilled with the growth our team has been able to achieve during such
a difficult year for so many, successfully closing a new joint venture with Angelo Gordon and
acquiring industrial real estate in South Florida is quite an accomplishment.”

About Redfearn Capital

Redfearn Capital is a private real estate investment firm based in Delray Beach, Florida with over
$300 million of assets under management and over 2.5 million square feet in three states with a
focus on industrial, office, and medical office assets. The Company’s approach to commercial real
estate investing is branded by a significant emphasis on tenant relationships through a dedicated
management team and experienced investment professionals. Redfearn Capital focuses on strategic
real estate acquisitions with a strong and reliable tenant base in unique locations in South Florida
and Colorado.
www.redfearncapital.com