The to-be-built warehouse will total 174,348 square feet.
The property was acquired in a special situation from a long-term private family owner.
“The Lake Worth submarket remained at 95% occupancy or above in 2020 and is poised for additional rent growth.”
In addition, Berkadia lined up a $280.3 million loan for the acquisition.
The sale price equates to $221,250 per unit.
LUMA at Miramar was built in 2019 and stabilized in Q1 2020, with occupancy remaining at or above 90 percent throughout 2020 and 2021. The property was fully occupied at the time of sale.
Sageblan Investments acquired the SunTrust Parking Garage which is entitled for up to 800 residential units, 120 hotel keys, and 7,205 square feet of retail space
Now under construction, “The Julia” (formerly No. 16 Residences) is a $100 million, 14-story residential tower that will deliver 323 upscale one- and two- bedroom apartments to one of the city’s most historic and vibrant neighborhoods.
Senior Managing Director Charles Foschini and Managing Director Chris Apone of Berkadia Miami secured the financing on behalf of the ownership.
Calum Weaver, Perry Synanidis and Garrett Pordes of Cushman & Wakefield represented the seller, 3T Country Club Village LP, in the transaction.
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