Avanti Residential has acquired Soleste Grand Central, a newly built luxury 360-unit apartment community in downtown Miami, FL. Avanti purchased the Class A multifamily community for $181 million from The Estate Companies, which developed the project in 2021 and achieved 95% occupancy in six months.

Still Hunter led the Walker & Dunlop team that represented the sale. Safehold Inc., provided a $62.5-million ground lease to facilitate the acquisition.

The acquisition is Avanti’s fourth South FL purchase in the past year and brings the company’s investment in the area to approximately $500 million.

Soleste Grand Central is located at 218 NW 8th Street with walkable access to retail and dining options, and immediate access to I-95. On-site amenities include a fourth-floor pool and deck with cabanas, a fitness center, yoga and spin studios, and a salon. The project has a business center with co-working spaces and a conference room plus bike storage and repair, bark park and pet washing station, clubroom, café and gaming lounge.