Coral Rock Development Group is selling Southern Florida rent for $ 95 million – a trade observer

A joint venture led by CSL partners He paid $ 95 million for a multi -family property in Hialeah, FLA.

Called Cigar species miaThe building building sits on a 5 -acre site of 3051 West 16th AvenueRight north of the Western Ocechobi Road. Based on Coral Gables Coral Rock Development Group I sold the asset.

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Pura Vida Mia has 260 units and 11,000 square feet from the ground floor. At least 40 percent of the units are priced to be available to those who earn up to 120 percent of the average income of the area in exchange for tax breaks by Live Local ActS

Bought partners include BindorPrivate Real Estate Investment Company in Miami and a multi -family investor based in Dallas PresidiumS

“With some of the lowest levels of vacancies in historically, we have acknowledged a significant difference in housing opportunities that meet the needs of millennia that have often been forced to look for elsewhere for appropriate rental opportunities” Brandon KhimtovCo -founder of Montreal -based CSL Partners, a statement said.

Andres Grossman to Associated commercial advertisement mediate with the transaction. The real deal He first reported the sale.

The Coral Rock Development Group finished the building from 334 923 square feet in 2022, two years after securing a $ 41 million -based construction loan from De Mines -based Main financial groupAccording to real estate records.

In the same block, Coral Rock Development Group has built three retail properties that it has already been sold.

Julia Echickson can get to [email protected]S