The Real Deal Miami

Miami apartment complex trades for $75M

November 22, 2013 10:30AM

Terrazas River Park Village

Terrazas River Park Village

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