University of Miami Pays $92M for Apartment Tower
Dominion Tower features 123 units
By Jeff Ostrowski October 30, 2025 2:00 pm
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The University of Miami recently beefed up its real estate holdings by paying $92.4 million for a 20-story apartment building near Jackson Memorial Hospital.
No deed was issued in the transaction, which the private school disclosed in its recent financial statement. The Business Journals first reported the deal.
In its audited financial statement, UM said it paid cash for Dominion Tower. That sum included $1.3 million for exclusivity rights for six weeks before closing, and $1.1 million for transaction costs.
According to property records, Dominion Tower is a 123-unit building at 1400 Northwest 10th Avenue in Miami. Built in 1968, the tower stands just north of Interstate 395 and just west of Interstate 95.
The property last sold in 1983 for $9.5 million, according to property records. The previous owner was an affiliate of Feit Management Company of Hollywood, Fla., according to state and county records.
“The university is currently assessing its future plans for the acquired assets,” the school said in the financial statement.
While UM’s main campus is in Coral Gables, the private school owns a medical campus near Jackson Memorial.
Jeff Ostrowski can be reached at jostrowski@commercialobserver.com.
