The project will have a total cost of $25.4 million, consisting of a pair of five-story apartment buildings spread between 3.5 acres of land on the border of Miami-Dade and Broward County.
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The asset was completed in Q2 2020 and is approximately 98 percent leased.
Here are the most popular news headlines this past week on CRE-sources.
The properties comprise 656 units.
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The project will comprise 250,000 square feet of retail and 578 affordable senior housing units. Retail tenants Include Target, Aldi, Ross, Five Below and more.
HGI purchased the property in 2017 for $158.5 million and upon acquisition invested an additional $2.65 million in interior maintenance and upgrades.
Gridline Properties’ brokers Alfredo Riascos and Yonatan Missika represented Rilea Group in the off market transaction located at 56 NE 29th Street.
Here are the most popular news headlines this past week on CRE-sources.