The Real Deal Miami

Ohio REIT buys Doral West community

The sales price and the seller were not disclosed
July 25, 2013 01:00PM


Doral West

A gated luxury rental community on 22 acres in Doral sold for an undisclosed price to Associated Estates, a real estate investment trust based in Richmond Heights, Ohio, CBRE, the seller’s agent, said in a release.

In fifteen years, only 25 multi-home communities have been built in Miami-Dade County, and Doral West is among them.

“With some of Miami-Dade’s best demographics, an excellent school system and improving infrastructure, Doral is highly sought after by institutional investors,” Robert Given, Vice Chairman with CBRE’s Multi-Housing Investment Properties group, was quoted as saying.

Built in 1998, Doral West is a Class A, gated lakeside community featuring both flat and townhome-style units.

Given represented the seller along with Zachary Sackley, First Vice President, and Gerard Yetming, Senior Vice President, all with CBRE’s Multi-Housing Investment Properties group based in South Florida. — Emily Schmall