The Real Deal Miami

Related Group does $17M Miami-Dade apartment deal

Company was involved on both sides of transaction
November 26, 2014 02:00PM

Google Maps view of the Golfside Villas

A $16.75 million apartment sale in northwest Miami-Dade County has the Related Group on both sides of the deal.

Seller Related Club West Housing Associates is reportedly a partnership between Related and Jubilee Community Development Corp. Buyer Golfside Villas Preservation is majority-owned by Related with a minor interest in Jubilee.

The buyer obtained a $11.3 million mortgage through Wells Fargo (with backing from Fannie Mae), plus a $3 million loan from the county’s public housing program, according to the South Florida Business Journal.

The Golfside Villas property, built in 1999, is located at 6800 Northwest 179th Street and has 194 units occupying 169,561 square feet on 8.4 acres, according to the Journal. [South Florida Business Journal]Chris Guanche