Dutch Investor Pays $110M For New Rental in Aventura, Fla.

Dutch investor Breevest has paid $110 million for a new multifamily asset near the Aventura Mall in Florida’s Miami-Dade County, property records show.

Called Avida Aventura, the eight-story property houses 266 apartments at 19401 West Dixie Highway, facing Biscayne Boulevard and across the street from the 1.8 million-square-foot indoor mall. The transaction equates to just over $413,000 per unit.

The seller, Steve Fifield’s Fifield Companies, completed the 445,2500-square-foot building in 2024. The Chicago-based firm had purchased the triangular-shaped, 1.8-acre site for $12 million in 2021. Ladder Capital provided a $112 million construction loan later that year. 

For Breevest’s recent acquisition, BDT & MSD Partners provided an $85 million acquisition loan.

The transaction appears to be Breevest’s first purchase in South Florida. Last year, it sold for $90 million an office building in Beverly Hills to Alo Yoga, the influencer class’s favorite athleisure brand.  

South Florida’s multifamily investment market has picked up this month, even though rent growth has slowed since the height of the pandemic. The real estate investment arm of the Church of Jesus Christ of Latter-day Saints paid $240 million for a 456-unit, rental complex in Boca Raton, and the LeFrak Organization bought Related Group’s new waterfront rental tower in Fort Lauderdale for $180 million. 

Representatives for Breevest and Fifield Companies did not immediately respond to requests for comment.

Julia Echikson can be reached at jechikson@commercialobserver.com.