The Real Deal Miami

Codina sells Signature at Davie apartments for $114.8M

AMLI also acquired Signature at Doral from Codina-Carr in April
By Katherine Kallergis | October 01, 2015 10:30AM

Signature at Davie Apartments and Townhomes

Signature at Davie Apartments and Townhomes

A company led by developer Armando Codina has sold the Signature at Davie Apartments & Townhomes for a combined $114.8 million, Broward County records show. 

AMLI, a national multifamily development, acquisition and management company, bought the communities at 5801-6151 Toscana Drive and 3300 Davie Road. Andrew Holm, real estate managing director at Ares Management, signed the deed transfer of ownership on behalf of the seller.

CC Davie, an affiliate of Codina-Carr Residential, completed the 17.4-acre Toscana Drive development in 2013, It includes 350 units and last sold in December 2011 for $11.55 million, according to Broward County property records.

CC Davie II acquired the second property on Davie Road for $6.3 million in December 2013. The nearly 10-acre site was developed in 2014 and includes 64 units.

Signature at Davie, which includes both parcels, is west of the Florida Turnpike and borders Broward College. Amenities include community pools, gym, spa, clubroom, putting green and pet park.

In April, AMLI worked together on another deal: Codina-Carr sold Signature at Doral, a 14.5-acre community in Miami-Dade County, for $103.5 million the Houston-based company.