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Doral Apartments Flip for $139M
The AMLI Doral apartments at 11431 Lakeside Drive were sold for $139.25 million, just under $400,000 a unit. The complex was immediately rebranded the Point at Lakeside. AMLI paid $103.5 million for the property in 2015.
The S. Florida Business Journal reports that AMLI Residential sold the 352 apartments at 11431 Lakeside Drive to Pantzer Properties. JLL Real Estate Capital provided the buyer with a $87.65 million mortgage with a five-year maturity.
The apartment complex, totaling 475,423 square feet, was built on the 14.6-acre site along Florida’s Turnpike in 2013. It includes a lake, a pool, a fitness center, and a clubhouse. The apartments range from 772 to 1,331 square feet and are listed from $2,306 to $4,135.
Pantzer Properties owns more than 10,000 units in 34 properties along the East Coast. It invests through its fully discretionary private equity fund series known as the Panco Strategic Real Estate Funds.
- ◦Sale/Acquisition
