The Real Deal Miami

Multi-family complex sells in Hollywood Beach

August 13, 2012 09:45AM

A 12-unit multi-family complex in Hollywood Beach has been purchased by a foreign investor for $1.1 million, according to CBRE, which represented the seller, a private individual. The property, which is located at 335 Georgia Street, was built in 1955. It includes 5,793 square feet of space. The buyer was represented by Esslinger-Wooten-Maxwell’s Jeff Cohen. “Strong occupancy, low supply, anticipated rent growth and historically low interest rates are contributing to strong investor demand [in multi-family],” said CBRE’s Calum Weaver. “Aside from all those drivers, South Florida remains a prime investment target of foreign capital seeking to invest in the U.S.” — Alexander Britell