Greystar acquired the Latitudes at the Moors near Hialeah for $93.5 million.
The S. Florida Business Journal reports Nuveen sold the 358 apartments at 6290 N.W. 173rd St.. Walker and Dunlop provided the buyer with a $65.45 million mortgage that matures in five years.
The price equated to $261,173 per unit. Greystar renamed the complex Avana at the Moors. The three-story apartment complex, which totals 331,131 square feet, was built in 1989 on a 12.09-acre site along a lake. It includes a clubhouse and a pool.
The property last traded for $71.3 million in 2018. Rents in Miami-Dade County have grown steadily over the past seven years.
Units in Avana at the Moors range from 738 to 1,011 square feet.
The development team behind One Beverly Hills (1BH) said construction on the $10-billion luxury mixed-use project is proceeding ahead of schedule. The Beverly Hilton expansion structure topped out approximately 10 weeks ahead of schedule and one of the residential towers is progressing six weeks ahead. “This was accomplished while significant operations were maintained at The...
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Northwind Group has originated a $231-million first mortgage construction loan for 675 Third Ave., a 32-story, 337,000-square-foot office building in Manhattan’s Midtown East neighborhood that is slated for conversion into residential apartments. The conversion is being led by a joint venture between Nathan Berman’s Metro Loft Management and David Werner Real Estate Investments. Loan proceeds...
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Rental housing affordability declined in 82% of U.S. metropolitan areas between 2014 and 2023, with renters experiencing the equivalent of an average $256 annual reduction in income after accounting for changes in housing quality. That’s according to a new report released Tuesday by the Mortgage Bankers Association’s Research Institute for Housing America. The report, Housing...
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