Doral Apartment Complex Sells for $255M
By Jeff Ostrowski December 16, 2021 4:34 pm
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A luxury apartment complex in Doral, Fla., has sold for $255 million in one of the largest multifamily deals of the year in South Florida, brokerage Walker & Dunlop said Wednesday.
The Landmark South is a 631-unit apartment community at 6055 Northwest 105th Court. Monthly rents range from $2,199 for a one-bedroom unit to $3,585 for a three-bedroom place, according to Apartments.com.
The sale amounts to about $404,000 per apartment. Part of South Florida’s new generation of high-end multifamily projects, Landmark South was completed in two phases in 2017 and 2021.
The seller is an affiliate of AECOM-Canyon Partners. The buyer is JSB Capital Group.
Still Hunter, Greg Engler and Kaya Suarez, all of Walker & Dunlop’s South Florida property sales team, brokered the transaction.
The three-tower complex boasts two swimming pools, two fitness centers, a spa with saunas and a pet spa.
Big money is flowing into South Florida’s mulitfamily sector. While this deal didn’t quite make the top deal of the year for the region, it was close. In August, Cortland purchased the Residences at Uptown Boca, and in an even more recent example, celebrity investor Grant Cardone spent $744 million on four apartment complexes in Broward County.
Jeff Ostrowski can be reached at jostrowski@commercialobserver.com.
