AMLI Residential Unloads Another South Florida Rental for $89M
By Julia Echikson June 26, 2024 12:04 pm
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Just days after selling one multifamily property, AMLI Residential has sold another for $89.4 million, property records show.
The 584,565-square-foot complex, called AMLI at Sawgrass Village, houses 325 units at 3000 and 3004 NW 130th Terrace in Sunrise, Fla., just north of the Sawgrass Mills mall and the Amerant Bank Arena, facing the Sawgrass Expressway. AMLI Residential, a division of Morgan Stanley, completed the five-story property in 2016.
AMLI at Sawgrass Village’s new owner is Mesirow Financial, a Chicago-based investor. Equitable Financial Life Insurance provided a $71 million acquisition loan. The sale equates to about $275,000 per apartment.
The deal comes just five days after AMLI Residential sold a 352-unit, garden-style property in Doral for $139 million, one of South Florida’s largest multifamily sales this year.
But AMLI Residential hasn’t left the Miami region. In Miami’s Wynwood district, it recently completed a rental property and in nearby Midtown, and it’s developing another one after purchasing a 1.8-acre site for $30 million in 2022.
Mesirow Financial isn’t new to the South Florida multifamily market. In 2022, it purchased a 396-unit property in Coconut Creek for $132 million.
Representatives for AMLI Residential and Mesirow Financial did not immediately respond to requests for comment.
Julia Echikson can be reached at jechikson@commercialobserver.com.
