Newmark gives $ 65 million for apartments in South Florida – a commercial observer

Joint venture between CSL partners and Presidium Real Estate has provided $ 65 million in funding for the purchase of a multi-family asset with 260 units in the Miami-Dadd County, planned for transformation into workforce housing, the salesman has learned.

Newmark (NMRK)The Agency for the Agency has provided Freddie Mac-Caping loan of Pura Vida Hialeah A property in Hialeah, Florida, sources said to CO.

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CSL Partners and Presidium acquired The apartment complex for $ 95 million from Coral rock developmentS The purchase was the first reported from The real dealS

The developers have purchased a multi -family property with completion of a 2022 market rate on plans to warn it about homes at affordable prices when exempt from the new Florida in Florida in Florida Live Local Act Law.

Newmark arranges long with a team led by Nick Cribani., Peter Grissinger and Max haem supervised Jordan RoesebubS

Associated commercial advertisements Andres Grossman mediate with sales transaction.

Located on 3051 West 16th AvenueThe Pura Vida Hialeah property consists of three eight -storey residential buildings and approximately 11,000 square meters of retail on the ground floor, which includes commercial tenants Invivodicant health., Dollar tree and WawaS Community amenities include a swimming pool, fitness center, barbecue area and dog park.

The property was 95 percent rental during the purchase, according to sources.

“As the second largest city in Miami, historically being some of the lowest levels of vacancies, we have acknowledged a significant difference in housing opportunities that meet the needs of Millennials, which were often forced to look for elsewhere for appropriate Rental opportunities, ” Brandon KhimtovCo -founder of CSL Partners, said in a statement.

Officials from Newmark and Presidium did not immediately return requests for comment.

Andrew Cohen can get to [email protected]