Key tax incentives were passed this year that played a pivotal role in the acquisition, enabling the buyer to capture accelerated tax benefits and expand their portfolio of income-generating real estate assets.
The loan, provided by Mexico-based Banco Inbursa, will fund the ongoing development of the 12-story project, which will encompass 146 turn-key residences and 11,000 square feet of retail.
The project is expected to be completed in the summer of 2027.
Senior Managing Director Mitch Sinberg, Managing Directors Scott Wadler, Brad Williamson and Matt Robbins, and Vice President Hugo Hernandez of Berkadia Miami and Boca Raton secured the financing on behalf of the multifamily owner/operator.
The 15,372-square-foot building sold for $223 per square foot.
Completed between 2024 and 2025, the property comprises 420 units, offering a mix of studios, one-, two- and three-bedroom layouts, and townhomes.
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The property is currently available for sale or joint venture partnership, represented exclusively by Michael D. Hinton, CCIM, of Lee & Associates South Florida.
Kripalani and Fernandez join C&W from Colliers.
The new company brings together decades of experience and billions in real estate transactions under one roof, positioning itself as a “one-stop shop” for clients seeking top-tier commercial brokerage expertise across Florida.