Texas REIT Purchases Brickell Site

A Texas real estate investment trust has acquired a multifamily site in Miami’s Brickell neighborhood for $15.4 million.
A company managed by Addison, Texas-based Behringer Harvard on Thursday purchased two small apartment buildings totaling 34 units and two vacant parcels at 130 SW 12th St., southwest of the Brickell Metromover station, according to Miami-Dade County records.
Brixriv LLC, managed by Miami-based Bridgeloan Investors Inc., sold the site to Behringer. The Bridgeloan company took title to the site through a June 2011 foreclosure auction.
Behringer owns or has a stake in numerous South Florida properties. Its mulitfamily portfolio includes the Lakes of Margate in Margate, Satori in Fort Lauderdale and the Franklin Delray in Delray Beach.
Source: DBR

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