A luxury apartment complex in Miami has sold for more than $75 million.
An affiliate of New York-based Ladder Capital Financing Holdings acquired the two-tower Terrazas River Park Village Apartments at 1861 Northwest South River Drive, near the city’s Health District, South Florida Business Journal reported. The transaction has not been recorded by Miami-Dade County, but real estate firm CBRE represented the seller and disclosed the sale.
Terrazas includes 21 and 28-story rental buildings and is 98 percent occupied. The complex was completed in 2010.
Robert Given, Zachary Sackley and Gerard Yetming of CBRE’s Institutional Multi-Housing Group brokered the sale. [South Florida Business Journal] — Eric Kalis