New Urban Communities Sells Azul Apartments In Stuart For $15.5 Million
The Delray Beach-based New Urban Communities, led by Kevin Rickard and Tim Hernandez, has sold Azul Apartments in Stuart for $15.5 million to the San Diego-based public REIT DiversyFund Growth REIT. The price breaks down to roughly $316,000 per unit.
The Delray Beach-based New Urban Communities, led by Kevin Rickard and Tim Hernandez, has sold Azul Apartments in Stuart for $15.5 million to the San Diego-based public REIT DiversyFund Growth REIT. The price breaks down to roughly $316,000 per unit. The transaction was overseen by Stephen Nostrand and Alexis Shapiro with ONE Commercial Real Estate. Azul Apartments was developed in 2019 and features 49 units spread over 32,577 square feet of total developed. Units come in one, two and three-bedroom floor plans and amenities include a pool, spa, fitness center, media center, club room, walking trails and on-site management. Located at 201 SW Joan Jefferson Way, Azul Apartments rises three-stories on 1.6 acres of land which was leased by the city to the developer was designed by Martin Architectural Group.
Aimco Acquires Hamilton On The Bay Multifamily In Edgewater For $89.6 Million
The 275 unit bayfront multifamily rental tower Hamilton on the Bay in Miami’s Edgewater neighborhood has sold for $89,600,000, which breaks down to roughly $330,000 per unit. Rani Hussami of Marcus & Millichap’s Hussami Rockson Group represented the seller, Properties of Hamilton, Inc. in the transaction.
The 275 unit bayfront multifamily rental tower Hamilton on the Bay in Miami’s Edgewater neighborhood has sold for $89,600,000, which breaks down to roughly $330,000 per unit. Rani Hussami of Marcus & Millichap’s Hussami Rockson Group represented the seller, Properties of Hamilton, Inc. in the transaction. The property was originally developed by Ted Arison, founder of Carnival Cruise line, in 1984.
Apartment Investment and Management Company (Aimco | NYSE: AIV), is a publicly traded real estate investment trust (REIT) who owns over 120+ apartment communities comprising 32,000+ apartment units in major markets across the United States. Aimco also owns Atlanta, New York, San Francisco, Boston, Chicago, Denver, Washington DC, Los Angeles, Philadelphia, Seattle and San Diego. In Miami Aimco also owns Flamingo in South Beach, Bay Parc Apartments in Edgewater and Yacht Club in Brickell.
Mast Capital and BH Group have announced Raffles Residences Coconut Grove, the brand’s first standalone residential development, with 35 homes from $4.5 million and architecture by Brandon Haw.