Cushman & Wakefield, as exclusive advisor, is pleased to present an urban infill recapitalization opportunity for Altis Grand Central – Central Florida’s premier 314-apartment home asset located in Tampa, Florida (the “Property”). The Property is comprised in a 8-story wrap design with a combined average unit size of 857 square feet. Altis Grand Central is walkable to the University of Tampa and notable retail destinations including the Oxford Exchange and Mise en Place. The Property is conveniently located in close proximity to Tampa’s most notable entertainment and cultural destinations including the Julian B. Lane Riverfront Park, Curtis Hixon Park, Sparkman Wharf at Water Street, The Heights, Hyde Park Village, Tampa Museum of Art, Straz Center, Amalie Arena, and The Florida Aquarium. Developed by nationally recognized Altman Companies, Altis Grand Central represents a rare opportunity in the Southeast United States within the Tampa MSA.
Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire Card Sound Apartments (the “Property”) – a 105 unit garden style apartment community located in Miami-Dade, Florida.
The property was built in 1974 and gut renovated in 2012 with the intent to sell units as individual condos. No units were ever sold and ownership controls 100% interest in the property. The property is 98% occupied and has maintained a 95%+ occupancy over the past few years. With in-place rents averaging only $833 per unit, there is over $100 per unit upside potential through a minimal value add program.
The property is walking distance to the soon to be built Bus Express Rapid Transit (BRT) corridor. This estimated $300 million project will provide seamless access to the Dadeland South Metrorail Station. The immediate area around the property has among the highest population growth rates in Florida.
Cushman & Wakefield, as exclusive advisor, is pleased to present Courtyards at Cutler Bay (the “Property”) – a 144-unit, value-add residential asset located in rarely traded Miami, Florida. The three-story, garden-style property was built in 1966 and sits on a 6.98-acre site. The property provides a favorable unit mix with 60% of the units being two bedrooms.
There is upwards of $470,000 in rental upside at the property through loss-to lease burn off and value add:
1) Loss-to-lease: There is $250,000 in loss-to-lease that can be recognized at the property by leasing the units at today’s market rents which is $1,225 for a one bedroom and $1,450 for a two bedroom. Recent leases have been executed at even higher numbers.
2) Value Add: There is an additional $220,000 in value-add upside at the property. Ownership has fully renovated 28 units. Fully renovated units are achieving rent bumps up to $350 per month compared to classic-finish units.
The property has its 40-year certification and over $700,000 in recent improvements. This includes all impact windows, exterior paint, and upgraded security camera systems. All units have been updated, 28 of which to the highest level of finishes including vinyl plank floors, baseboards, removal of popcorn and retexturing, new kitchens and vanities, granite tops, new stainless appliances, new A/C units, new plumbing lines, water heaters, light fixtures. Between loss-to-lease burn off and value add there is almost about $500,000 in recognized income potential at the property.
Cushman & Wakefield, as exclusive advisor, is pleased to present the extraordinary opportunity to acquire LaVida Apartments at Blue Lagoon (the “Property”) - a Class-AAA, 272-apartment-home, luxury midrise residential community located in Miami, Florida. The property is strategically located just minutes south of Miami International Airport at the key intersection of the Dolphin and Palmetto Expressways. Situated at the perimeter of Waterford Business District - the 250-acre Class “A” office park, LaVida provides a true live-work opportunity to over 12,000 campus employees.
LaVida Apartments at Blue Lagoon is being offered for the first time by its developers, Pinnacle and Ascend Properties, and presents a rare opportunity to acquire a new construction, stabilized Miami-Dade luxury apartment community within the picturesque Blue Lagoon neighborhood of Central Miami.
Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire Mareas at Botanica (the “Property”) – a Class-AAA, 408-unit luxury garden apartment home community located in Miami, Florida. The property recently stabilized and offers an investor the opportunity for an additional 192-units within the future Phase II of the property. Designed with a commitment to quality, the property is set on 18 acres within 18 three-story buildings and an average unit size of 1,035 square feet. Mareas at Botanica also features 34 detached garages along with an expansive amenity package highlighted by the two-level 11,000 square feet clubhouse.
Centrally located along SW 152nd Avenue, the property has exposure to 53,000 cars daily and is located one mile from the Florida Turnpike, proving access to the major employment markets of Coral Gables, Downtown Miami, Blue Lagoon, Doral and Downtown Dadeland. Mareas at Botanica is also walkable to 230,000 square feet of retail anchored by a Walmart with a grocer, Starbucks, Panera Bread, Chili’s and PDQ.
Mareas at Botanica is being offered for the first time by its developer, Ram Realty Advisors and presents a rare opportunity to acquire a newly built, suburban garden apartment community in the epicenter of one of Miami’s fastest growing cities.
Cushman & Wakefield, as exclusive advisor, is pleased to present the extraordinary opportunity to acquire Moda North Bay Village (the “Property”) – an iconic 8-story midrise located on 4.5 acres on the northernmost point of the North Bay Village islands in Miami Beach and overlooking Biscayne Bay. The property was developed in 2015 by ZOM and comprises 285 luxury apartment homes with an average unit size of just over 1,000 square feet. The property has 1,400 feet of water frontage providing water views for 100% of the units, as well as water access via the marina on the property. A variety of amenities are available to residents including two pools, access to kayaks and paddleboards, and boat/jet ski dockage. Moda is also the newest of four market-rate apartment communities in Miami-Dade to offer an onsite marina. Residents can enjoy ease of commute to downtown Miami/Brickell and Aventura which provide a mix of employment, retail and nightlife. Moda is also less than three miles from the pristine beaches of Miami.
Cushman & Wakefield, as exclusive advisor, is pleased to present the extraordinary opportunity to acquire Modera Metro Dadeland (the “Property”) – a transit-oriented, urban infill 25-story high-rise located in Miami, Florida, with tremendous walkability and regional connectivity via access to the Metrorail.
Developed by nationally recognized Mill Creek Residential, Modera Metro Dadeland was completed in 2018 and is comprised of 422 luxury apartment homes. The Property was meticulously designed to provide residents elegant unit features and expansive amenity space. Thus, it has attracted a sophisticated demographic with an average age of 38 and average household income of $147,000.
Modera Metro Dadeland’s quality energy efficient construction with LEED Silver Certification and irreplaceable location position the property for long term, sustainable cash flows in a rapidly growing market.
Cushman & Wakefield, exclusive marketing advisor, is seeking a recapitalization in REIT share interest in Society Las Olas (the “Property”) – a 34-story, mixed-use, TOD residential high rise located along the New River and renowned Las Olas Boulevard in Fort Lauderdale, Florida. Society Las Olas is the city’s premier rental apartment community that has leased at a record pace despite opening during the peak of the Covid-19 pandemic in late May 2020. The Property is composed of 639 luxury residences and also includes 27,801 square feet of office space, 4,295 square feet of seller owned and fully leased retail and 16,367 square feet of third-party owned and fully leased retail (third-party owned retail is not included in this offering).
Metro areas, including South Florida, are experiencing an affordability challenge as new high-end and highly-amenitized developments lack a broadly affordable entry price point. Society Las Olas’ innovative approach and creative design—through unit size and layout—addresses the problem of ever-increasing entry price points into highly urbanized markets. Society Las Olas’ flexibility of accommodating both rent-by-bedroom (RBB) units and short-term rental (STR) operations at ownership’s discretion allows young urban professionals the opportunity to experience the vibrant downtown at an attractive and cost effective price without sacrificing amenities or living experiences; in fact, they are provided a better one. The Property’s RBB units are proving to be a great starting point for younger renters who then graduate within the building to full units as their needs and careers grow.
The Property’s downtown location along the river and its immediate walkability to the Brightline station presents an extremely rare acquisition opportunity, which a long-term investor will greatly benefit from. Society Las Olas’ premiere quality, expansive amenity offering, and irreplaceable location are best positioned to benefit from the city’s impending growth and expanding transit connectivity for years to come.
Cushman & Wakefield, as exclusive advisor, is pleased to present the extraordinary opportunity to acquire Solitair Brickell, an iconic 50-story residential high-rise located in the center of South Florida’s most exclusive submarket. This coveted asset opened in 2018 and is comprised of 438 luxury residences, 6,669 square feet of fully leased, high-value ground floor retail and 440 parking spaces, of which 77 are utilized for daily parking income. Solitair Brickell represents the first opportunity this cycle to acquire a publicly marketed residential asset in Brickell Miami.
Cushman & Wakefield is pleased to present the opportunity to acquire The Lodge at Hamlin, a new construction, Class AA, 250-unit, garden-style apartment community located in Winter Garden, Florida.
Cushman & Wakefield, as exclusive advisor, is pleased to present Residences Uptown Boca, a brand new, 456-apartment home, Class AAA residential community located in Boca Raton, Florida.
Boca Raton is sought after for its A-rated schools, thriving retail corridors and tremendous access to employment. The property is walkable to the newest and most desirable retail in the area which includes 158,000 square feet and will be anchored by a high-end grocer. The property is adjacent to the 100-acre Jewish Federation of South Palm Beach County. This site includes schools, assisted living and community centers and is the largest of its kind in the US. Uptown Boca’s location provides access to over 18 million square feet of office space and over 125,000 jobs.
Residences Uptown Boca’s architecture and five-story design make a stunning impression. Its apartment homes have unrivaled asset quality, best-in-class finishes and thoughtful touches catering to the highest renter profile. The property opened in November and has averaged over 45 leases per month demonstrating the strength of the property and the market.
Cushman & Wakefield, as exclusive advisor, is pleased to present a multifamily investment opportunity to acquire Town Lantana (the “Property”) – an increasingly scarce east of I-95, new construction, luxury garden apartment development of 360 apartment homes in the growing area of Lantana, Florida. The property is comprised of 14 three-story buildings walk-up units averaging 947 square feet that are serviced by detached garages and car ports. Town Lantana is located less than 0.5 miles from I-95 and 1-mile from the beach.
The community is a short distance from millions of square feet of high-paying jobs in Boca Raton, Downtown Delray Beach and the Central Business District of West Palm Beach. The property also has tremendous access to Lantana Blvd (35,500 cars daily) and will have future walkability to 125,000 square feet of retail that is under construction. The property opened in January of 2020 and has quickly moved through the lease-up process in part due to its market-leading luxury finishes and unmatched amenity offering and a rare low-density setting of 22 units per acre.
Cushman & Wakefield, as exclusive advisor, is pleased to present the extraordinary opportunity to acquire X Miami (the “Property”) – a 32-story, transit-oriented high rise located in globally renowned Downtown Miami, Florida. X Miami is the city’s premier rental apartment community that opened with much fanfare in the summer of 2018 and has proven resilient through the coronavirus pandemic. The Property is composed of 464 luxury residences with 729 square feet of fully-leased restaurant space in the building’s lobby.
First-tier cities, including Miami, have begun to experience an affordability challenge as new high-end and highly-amenitized products lack an affordable entry price point. X Miami’s innovative approach and creative design – through unit size and layout – addresses the problem of ever-increasing entry price points into highly urbanized markets. X Miami’s flexibility of accommodating both rent-by-bedroom (RBB) units and short-term rental (STR) operations at ownership’s discretion allows young urban professionals the opportunity to experience the vibrant downtown at an attractive and cost effective price, without sacrificing amenities or living experiences; in fact, they are provided a better one. RBB units are proving to be a great starting point for younger renters who then graduate within the building to full units as their needs and careers grow.
The Property’s downtown location presents an extremely rare acquisition opportunity, which a long-term investor will greatly benefit from owning due to the building’s quality and positioning. X Miami’s landmark location and adjacency to a Metromover station puts it at the forefront of the impending growth that Miami is experiencing in its ascent into a first-tier world-class city.
Cushman & Wakefield is pleased to present the opportunity to acquire Bungalow Walk at Lakewood Ranch - a Class AA, 228-unit, single-family, build for rent community (the "Property"). The Property is located in Sarasota, Florida, within Lakewood Ranch, the nation’s second-fastest selling master-planned community.
THE LAST REMAINING OPPORTUNITY IN MIAMI WORLDCENTERCushman & Wakefield, as exclusive marketing advisor, is pleased to offer a land sale or joint venture opportunity in the development of the middle and western portion of Block A of Miami Worldcenter (the “Offering”), the 2nd-largest active urban mixed-use project in the United States. This represents the last remaining available block within Miami Worldcenter. Phase 1 of this iconic, city-shaping development is currently under construction and will include 320K sf of retail, over 2,000 hotel keys, 600k sf of convention space, 500k sf of office space and over 1,900 residential units. Block A, “the Opportunity”, encompasses approximately 2.18 acres, with the base development capacity of nearly 1,100 residential units and 1.7 million square feet.