Kushner Pays $190M for Edgewater Apartments

Walker & Dunlop arranged the $190 million sale and $157 million financing of The Hamilton, a 276-unit bayfront high-rise in Miami’s Edgewater neighborhood, on behalf of Apartment Investment and Management Company (Aimco), the seller. Kushner Companies was the buyer. The Walker & Dunlop South Florida Investment Sales team, led by Still Hunter, arranged the sale on behalf of Aimco. Walker & Dunlop’s New York Capital Markets team, led by Aaron Appel, arranged the $157 million financing package on behalf of Kushner. Apollo Global Management and Macquarie Group were the lenders.

Initially developed in 1984, Aimco purchased The Hamilton in 2020 and completed a complete renovation of the community in 2022. The waterfront property features 276 apartments ranging from one to five bedrooms and averaging 1,373 square feet.

Walker & Dunlop says the Hamilton offers the largest private outdoor terraces in South Florida. Each apartment boasts a terrace that averages 326 square feet, with some larger than 2,300 square feet.