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The Real Deal Miami

Investor pays $28.5M for Kendall complex

September 22, 2010 12:00PM

Sunset Gardens in Kendall

A South Florida private equity group has paid $28.5 million, or $10
million more than the current assessed value, for a 208-unit apartment
complex off of Sunset Drive in Kendall, according to a new report from
Condo Vultures. The buyer was Aventura-based Sunset Gardens Investors,
which paid an average of $124 per square foot for the property on SW 107th Avenue. The Sunset Gardens apartment complex has an
assessed value of $18.8 million, or about $82 per square foot,
according to the Miami-Dade County Property Appraiser’s Office. TRD