Miami Apartments Flip for $423K/Unit
The barely completed Alexan Park 82nd Apartments in Doral was sold for $156 million. The seller was an affiliate of Trammell Crow Residential. The buyer is associated with the Stockbridge Capital Group.
The price paid for the 368 apartments at 8300 Park Blvd. equated to $423,913 per unit. The deed also stated that the property may not be converted into condominiums until 2035.
Totaling 393,188 square feet in four stories, the apartment complex was developed on an 11.3-acre site that previously had a Costco store. Units range from 800 to 1,364 square feet.
South Florida Business Journal reports there has been a slowdown in apartment acquisitions in South Florida this year amid higher interest rates, but this deal closed all cash.
Apartment buildings for sale
Check out the latest properties available on apartmentbuildings.com
WYNWOOD 22ND & NW 2ND
Miami, FLFlorida & Gulf Coast + Apartments
Learn MoreListing Status: Available Listing Type: Highest & best offer Price: $15,300,000 No. of Units: 68 Year Built: 1960 Building Size: 54327 Sq ft Lot Size: .97 Acres Opportunity Zone: No Price per unit: $225,000 
Westview Commons
Davie, FLFlorida & Gulf Coast + Apartments
Learn MoreListing Status: Available Listing Type: Highest & best offer Price: $9,250,000 No. of Units: 40 Cap Rate: 6.22 Year Built: 1986 Building Size: 31160 Sq ft Lot Size: 2.27 Acres No. of Stories: 2 Opportunity Zone: No Price per unit: $231,250
- ◦Sale/Acquisition
