Mast Capital Delivers Avalon Merrick Park Coral Gables Multifamily In Partnership with AvalonBay Communities

Miami-based real estate development firm Mast Capital in partnership with AvalonBay Communities, a publicly traded real estate investment trust that invests in multifamily developments, has delivered Avalon Merrick Park. Situated at 3811 Shipping Ave. in the upscale Coral Gables area, the residential community has 254 luxury rental units and an array of unmatched amenities to accommodate the growing demand for luxury rentals.

“Coral Gables continues to outperform as one of the most highly desired cities and in-demand residential markets across South Florida,” said Camilo Miguel Jr., CEO and Founder of Mast Capital. “The delivery of Avalon Merrick Park and the leasing success to date underscores the rising demand for high-quality housing in the Coral Gables market. Our community offers a unique urban and sophisticated setting complemented by spacious residences and lifestyle-driven amenities that create an elevated living experience.”

Avalon Merrick Park offers a variety of floorplans ranging from studios, one-, two-, and three-bedroom apartments spanning from 456 to 1,530 square feet in size. The thoughtfully designed living spaces feature modern kitchens with quartz countertops and stainless-steel appliances boasting tile backsplash, LED lighting, and hard-surface flooring.

Designed by award-winning architecture firm Arquitectonica and constructed by First Florida, the multifamily development offers a robust amenity package that includes an elevated, resort-style swimming pool with infinity edge and ocean views, state-of-the-art fitness center complete with a yoga studio, a resident lounge with coworking spaces and pet spa. Residents will also enjoy Avalon Connect offering high-speed WIFI in both units and common areas, digital resident services including the ability to submit service requests and pay rent online, and lockers for the secure delivery of packages.

Avalon Merrick Park is within walking distance of one of the area’s most acclaimed open-air lifestyle centers, Shops at Merrick Park, home to luxury and designer brands and a variety of upscale dining, shopping, and entertainment options. The residential community is just one mile from the center of Coral Gables, where its iconic pedestrian promenade Miracle Mile is considered a premier destination with dozens of shops, eateries and cafes. The property is also conveniently close to other popular neighborhoods such as Coconut Grove, South Miami, Brickell, and Downtown Miami.

Mast Capital has emerged as one of Florida’s most active real estate development and investment firms, with a diverse portfolio of residential and commercial properties throughout the region. The firm continues to expand its portfolio, with acquisitions representing over $3.5 billion in total project capitalization. These investments include new-build development of 4,000 residential units in Brickell, Miami Beach, Fort Lauderdale, Palm Beach County, as well as the Orlando, Fort Myers, and Tampa Bay metro areas.

AvalonBay Communities Acquires South Miami Winn-Dixie Site For $18.95 Million

AvalonBay Communities, led by CEO Timothy Naughton, has acquired a South Miami Winn-Dixie site located at 5850 SW 73rd Street for $18.95 million. The seller was a joint venture between entities tied to the Bacardi family and Alta Development, led by Henry Pino, who had acquired the property in 2007 for $14.5 million.

The 1.9 acre site has approval to build a 9-story mixed-use project with 283 apartment units and a 36,395 square foot grocery store designed by Corwil Architects. The residential component would feature a pool dec and 8,000 square feet of amenity space, along with the development offer 400 parking spaces. The new building would replace a 20,664 square foot Winn-Dixie which was built in 1962. The site is located just a few block from the South Miami Metrorail Station.