The Real Deal Miami

Atlanta development firm purchases troubled Vista View Apartments

December 29, 2009 05:32PM

Atlanta-based real estate investment and development firm Jamestown has
purchased the 308-unit foreclosure- and fraud-plagued Vista View
Apartments in Sunny Isles Beach, Miami from Sky Development, the company announced today.
Jamestown paid
$31.25 million for the seven-acre, four-building complex, located east
of the Intracoastal Waterway and north of Sunny Isles Boulevard, on
Dec. 14. After extensive renovations and upgrades over the next few
years, the apartments will be renamed Beach Place, Jamestown said. The
company also owns the 228-unit apartment Tradition at Kendall, also in
Miami. TRD