Alta Mira Apartments in Miami Sell for $52.7 Million

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Georgia-based Wood Partners sold the 240-unit Alta Mira Apartments Friday for $52.7 million or $219,500 per unit. The buyer, local investment company Advenir, funded the sale with a $38.7 million Freddie Mac loan.

The Alta Mira Apartments were built in 2013 near the southwest corner of Biscayne Boulevard and 123rd Street. Nearby shopping includes Whole Foods, The Home Depot, and CVS Pharmacy.

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Notice of Commencement, $80m Construction Loan Recorded for Vice Apartments

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Property Markets Group is now one step closer to development of the Vice Apartments tower in Downtown Miami. A notice of commencement recorded with the Miami-Dade recorder Friday, just after the 1-acre site transacted in a related sale. A construction loan of $80 million with Centennial Bank was also recorded.

Vice Apartments is a proposed 32-story complex with 464 units on 1 acre near Biscayne Blvd and 4th St in Downtown Miami.

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Chariff Realty Sells Newly Developed Brown Jordan Showroom for $13 Million

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Miami Beach investor Sam Herzberg purchased the Brown Jordan furniture showroom yesterday for $13 million, funded by a $6 million loan with Wells Fargo Bank. The seller, Chariff Realty, developed the two-story property on the 0.08-acre parcel - which was purchased for just $275,000 in 2013.

This showroom totals 8,600 square feet and stands just south of the Miami Design District, southwest of the Federal Highway and Interstate 195 intersection. A railroad sits directly east of the property.

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Land Sells for Development of 28-Story Optima Plaza North

Rendering via planning documents

Developers Ariel and Jose Bromberg purchased the 1.75-acre property near the southwest corner of Biscayne and Hallandale Beach Boulevards for $13 million. Proposed development of the 28-story Optima Plaza North office center includes 272,000 square feet of office, nearly 19,000 square feet of restaurants, and a bank.

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