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Florida & Gulf Coast  + South Florida  + Apartments  |  April 26, 2021
David Cohen
By: David Cohen

Sentinel Real Estate Acquires Miami Beach MF Portfolio for $97M

Sentinel Real Estate Corp. has acquired a 452-unit multifamily portfolio in Miami. The sales price was $96.5 million.

The portfolio consists of 30 individual properties, 25 of which are located in South Beach, with the other five located in the Bay Harbor submarket of North Miami Beach. Located between 7th and 16th Streets, the South Beach properties are within walking distance to some of the most sought-after attractions in South Beach, including Lincoln Road, Ocean Drive, Collins and Washington Avenues, and the Miami Beach Convention Center. The previous ownership has invested approximately $10 million into the structures within the portfolio over the last six years. As part of the repositioning efforts, the portfolio will be rebranded as Helios Apartments Miami Beach.

Cushman & Wakefield represented the seller, Boardwalk Properties, in the transaction.

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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