Doral View and Town Fontainebleau Lakes – Blackstone Group | $209M
Blackstone Group paid $208.75 million for a pair of neighboring apartment complexes in Doral, marking the largest multifamily deal in South Florida so far this year.
The Related Group and Rockpoint Group sold 720 units, split between Doral View at 901 Northwest 97th Avenue and Town Fontainebleau Lakes at 1062 Northwest 87th Avenue. Blackstone paid about $290,000 per apartment.
Cushman & Wakefield’s Robert Given, Troy Ballard, Zachary Sackley, James Quinn and Neal Victor represented Related and Rockpoint, according to a release.
The garden-style communities, which sit on 33 acres just south of the Dolphin Expressway, were built in 2014 and 2016 and are 95 percent leased, Cushman said. They hit the market in February.
Alister Boca Raton – American Landmark | $92M
American Landmark paid $91.5 million for a 448-unit apartment complex in Boca Raton.
American Landmark purchased Alister Boca Raton at 10235 Boca Entrada Boulevard for $204,000 per unit, according to a press release. A joint venture between Mill Creek Residential and AIG sold the community.
The apartments were built between 1986 and 1988 and offer one-, two- and three-bedroom units. Rents range from $1,299 to $2,127, according to Apartments.com.