Aztec Group’s Peter Mekras arranged the financing.
The project consists of 90 rental apartments and 9,642 square feet of ground floor retail.
The subject property features two 5-story office buildings on 5.78-acres with frontage on SR-7 (441) just 1-mile north of the Golden Glades Interchange.
The buyer is planning a multifamilyn development.
With this transaction, Peter Mekras has closed three South Florida multifamily transactions representing 692 units and $70 million in the last ninety days. CLICK ON THE HEADLINE FOR MORE
The sale price equates to $118,000 per unit, or $155 per foot, for the 1969-built property. CLICK ON THE HEADLINE FOR MORE
CREC’s Mekras represented Perry Ventures on its acquisition of the property in late 2013 for just under $1 million. CLICK ON THE HEADLINE FOR MORE
The lots had previously sold for a combined $4.6 million in separate deals that closed in 2004 and 2005. CLICK ON THE HEADLINE FOR MORE
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