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Florida & Gulf Coast  + South Florida  + Apartments  | 
Hines Global Income Trust has acquired Gables Station apartment community in Coral Gables, FL, for $430 million.

Hines Global Income Trust Acquires Coral Gables Multifamily for $430M

Hines Global Income Trust has acquired Gables Station, a 495-unit Time Life Living residence in Coral Gables, FL, for $430 million.

Robert Given, Troy Ballard and Zach Sackley Cushman & Wakefield represented the sellers, 54 Madison Partners and Nolan Reynolds International.

According to Hines, the acquisition is “the second largest single-asset multifamily sale in South FL,” which the company defines as moving south from and including Orlando.

Gables Station is a 14-story, 1.2-million-square-foot live, work and play development. The residential experience centers around Life Time’s 80,000-square-foot luxury athletic resort, a 25,000-square-foot Life Time Work coworking space and the Life Time Living® residences, including studios, one-, two- and three-bedroom, and penthouse units that are 95% leased.

Since the pandemic, Hines has committed approximately $1.8 billion across three developments and acquisitions in South FL, including FAT Village, a 5.6-acre, 835,000-square-foot, office, retail and residential mixed-use in Fort Lauderdale, and South Flagler House, a condominium featuring two 28-story towers in the West Palm Beach.

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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