Cushman & Wakefield, as exclusive advisor, is pleased to present an urban infill investment opportunity to acquire JOYA – a premier transit-oriented, 431-apartment home, 12-story asset located in Miami, Florida. With thoughtful unit layouts in a mix of flats and two-story townhomes, JOYA offers the largest floor plans in the market with an average unit size of 1,105 square feet. The property opened in February 2016 setting the standard for luxury apartment living while offering the most expansive amenities compared to its competitive set. Located within Dadeland, JOYA is less than five minutes from 1.5 million square feet of office and over 2 million square feet of retail. JOYA is also walkable to the Metrorail providing access to the other main employment corridors of Coral Gables, Downtown Miami and Miami’s Health District. Developed by nationally recognized Wood Partners, JOYA’s design elements and presence will stand the test of time.
Cushman & Wakefield, as exclusive advisor, is pleased to present a multifamily investment opportunity to acquire Vista Verde (the "Property") - a 302-unit, value-add residential asset located in rarely traded Miami, Florida. The two and three-story surface parked property was built in 1993 and sits adjacent to a Publix-anchored shopping center and across SW 107th Avenue from Florida International University (FIU) the fourth largest university in the United States with a growing enrollment currently at 55,000 students.
The property is currently implementing an in-unit renovation program of which they have fully renovated 16 units. The last 60 renovated units ("full" and "partial") have achieved average monthly rent premiums of $188 per unit per month. Cushman & Wakefield estimates that by completing the in-unit renovation program, a future investor could generate additional annual cash flow of over $475,000. This would allow for an increased return potential. Notable renovations include adding stainless steel appliances, granite counters, removing popcorn from the ceilings, new flooring, new cabinetry, and sinks. A new investor can further enhance cash flows by continuing this program.
Cushman & Wakefield, as exclusive advisor, is pleased to present an exceptional investment opportunity to acquire Santorini– a 226-unit, Class A, mid-rise asset located in Boynton Beach, Florida. Santorini is currently under construction with anticipated Certificate of Occupancy scheduled for January 2018. The property is located in Renaissance Commons, the premier mixed-use PUD in Boynton Beach, Florida. Within the PUD, residents are able to take advantage of 130,000 square feet of retail shopping and fine dining selections. There is also 200,000 square feet of office space in the PUD. Immediately adjacent to the property is Boynton Town Center which features 400,000 square feet of retail; across the street is the Boynton Beach Mall, which offers 1.2 million square feet of retail.
Cushman & Wakefield, as exclusive advisor, is pleased to present an exceptional investment opportunity to acquire IMT Florida Club – a 264-unit, value-add residential asset located in Boynton Beach, Florida. Situated on over 17.5 acres, IMT Florida Club offers a mix of one, two and three-bedroom units with a market leading average unit size of 1,143 square feet. Developed in 2001, the property has been impeccably maintained and is positioned for a future investor to modernize the interiors by implementing an in-unit renovation program. With an average occupancy rate of almost 96% over the last 12 months, there is an opportunity to push rents allowing a new owner to further enhance their returns on an asset with an already proven cash flow stream.
Plantation at Walden Lake is a 352-unit, garden apartment community located in Plant City, Florida. The property was constructed in phases from 1990-1994, consisting of 23, two-story apartment buildings situated on 43+ acres. The Property offers a mix of well-appointed one-, two- and three-bedroom apartments along with a comprehensive array of recreational and community amenities.
Plantation at Walden Lake has had the benefit of attentive, professional management and the property is in excellent physical condition. During the past 3 years, the seller has invested $1.8 million in capital improvements, including community amenity enhancements and interior updates to 43 (12%) of the units. The significant number of un-renovated units positions Plantation at Walden Lake as an exciting value-add investment opportunity.
Cushman & Wakefield, as exclusive marketing advisor, is pleased to present The House Residence at 250 Collins, 27 fully renovated residences located at 250 Collins Avenue in the heart of South Beach. The property allows for multiple investment strategies including hotel, apartments, short-term rentals, condo-conversion and condo hotel. The property has just completed a multi-year renovation which offers ultra high-end finishes including custom kitchens with quartz counters, high-end white lacquered cabinets and Miele appliance packages. Added into the redesign are a third floor glass penthouse level and a fourth floor roof top pool and sun deck. This truly is a turnkey, high-end boutique residence that does not exist South of 5th on Miami Beach.
The property provides spacious units averaging 702 square feet including 16 1bd/ba; 8 2bd/2ba; and 3bd/2ba units. 250 Collins is located in SOFI (South of Fifth) neighborhood, which is considered the most desirable in South Beach.
The property will be offered branded as The House Residence, a well-established international hospitality brand of hotels and residences. The brand translates into access to repeat Miami visitors from Europe and the Middle East as well as The House Collection’s international database of 40,000+ contacts. While the property is offered as a branded House Residence, if a purchaser has alternative plans for the property, this can be easily facilitated.
Cushman & Wakefield, as exclusive advisor, is pleased to present the extraordinary opportunity to acquire Murano at Grande Lakes (the Property). Murano is an iconic suburban residential mid-rise located in South Orlando, just south of the Beachline Expressway directly across John Young Parkway from Darden Restaurants 650,000 corporate Headquarters, and just north of the 500-room Ritz Carlton and 1,000-room, JW Marriott. It is strategically located between Orlando’s International Drive Tourist Corridor and the Orlando International Airport.
Murano is where luxury living meets a premier Orlando location. This coveted and irreplaceable four-story, surfaced parked asset opened in April 2016 and comprises 240 luxury apartment homes and 434 parking spaces. Upgraded finishes and resort-style amenities blend modern living with all the traditions of home.