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Cushman & Wakefield, as exclusive advisor, is pleased to present the core-plus investment opportunity to acquire the 700 unit City Center on 7th in Pembroke Pines, Florida. The property features an appealing unit mix with 425 garden style apartment homes and 275 two-bedroom townhomes with a market-leading size of 1,143 square feet. Of the townhomes, 55% have direct-access two car garages while 18% have one car garages. Originally built in two phases in 2014 and 2015, the property has upgraded 320 units – changing Formica countertop in the kitchens and bath to quartz for a $75 monthly premium. Given its two-phase development, the property now has two clubhouses, pools and fitness centers. The recently completed Pines City Center provides residents walkability to 300,000 square feet including Publix and other shopping and dining destinations. Its central Broward location provides residents quick commutes to the major employment centers in South Florida.

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Sold
City Center on 7th
700 Units
10170 SW 7th Street
Pembroke Pines, FL  33025
Type: Conventional
Closed: 6/18/2021

Cushman & Wakefield, as exclusive marketing advisor, is pleased to present the opportunity to acquire 100% interest in Marina Del Rey, a 108-unit waterfront value-add opportunity located in Miami Beach, Florida. The property offers over 400 feet on the water with a private boardwalk providing expansive Biscayne Bay views.

None of the units have been upgraded, allowing a new owner tremendous revenue upside with a comprehensive value-add program. Nearby renovated properties are commanding rent premiums providing a future buyer with rent upside of over $350 per unit. For example, the property next door to Marina Del Rey has been renovated with one and two bedrooms rent of $1,650 and $2,300. The current market rents for one and two bedrooms at Marina Del Rey are $1,250 and $1,660 respectively, providing a clear and compelling value add strategy for a new buyer.

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Sold
Marina Del Rey
108 Units
1006 Bay Drive
Miami Beach, FL  33141
Closed: 5/27/2021

Cushman & Wakefield, as exclusive advisor, is pleased to present 1200 Marseille, a value-add multifamily opportunity on Miami Beach. The property consists of two buildings. The unit mix is excellent for the location consisting of four 1BR/1BA units and eight 2BR/2BA units with an average unit size of 973 square feet.

The immediate area surrounding the property is poised for significant investment and improvement. The Miami Beach Commission unanimously approved a master plan for the city’s North Beach neighborhood, which stretches from 63rd to 87th Street. The master plan will include a North Beach Town Center and is likely to revitalize the area with hundreds of millions of dollars of new developments and neighborhood improvements.

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Sold
1200 Marseille
12 Units
1200 Marseille
Miami Beach, FL  33141
Closed: 4/9/2021

Cushman & Wakefield, as exclusive marketing advisor, is pleased to present the opportunity to acquire the interest in Gatehouse on the Green, a 312-unit asset located in Plantation, Florida. Considered the premier central Broward location, the property was built in 1991 with 9’ ceilings and vaulted ceilings on top floors. None of the units have been upgraded, allowing a new owner tremendous revenue upside with a comprehensive value-add program. The performance of the property has remained consistent through 2020 with strong occupancy and collections. Given its ideal location, the property has excellent access to the major employment markets and retail dynamics in the immediate area. Gatehouse on the Green represents the opportunity to acquire the ultimate value-add opportunity in a thriving, high demand market.

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Sold
Gatehouse on the Green
312 Units
150 SW 91st Avenue
Plantation, FL  33324
Type: Conventional
Closed: 12/31/2020