Assisted living center in West Miami sells for $7.8M

It was sold for $228 psf

TRD MIAMI /
Jun.June 06, 2017 12:15 PM

Pointe North Gables, an assisted living center in West Miami, has just sold for $7.8 million to Hallandale-based Hernandez Family Ventures.

Records show the three-story building at 5890 Southwest 8th Street holds 94 units. West Gables Holdings sold the 34,232-square-foot building for $228 per square foot to Pointe Real Estate, an affiliate of Hernandez Family Ventures. The family-owned company is led by Alain Hernandez, Andy Hernandez and Chantel Hernandez.

West Gables Holdings bought the center in 2013 for $5.8 million or $169 per square foot. Records show it was built in 1966.

Records also indicate Pointe Real Estate took out a $5.46 million mortgage from Floridian Community Bank.

Enrique Garcia of Heathcare Mergers & Acquisitions was the sole broker on the deal.

West Miami is south of the airport and just northwest of Coral Gables. It’s also home to Senator Marco Rubio.

Commercial properties in West Miami have been selling recently. The nearby Soleste West Gables apartment complex, at 2101 Ludlam Road, sold for $57.4 million to a Chicago-based investment and property management firm in August. Estate Investments Group, Fortune Capital Partners and Mattoni Group were the sellers.

Last month, Publix closed on the purchase in West Miami for $23.2 million. A CVS-leased building, also in West Miami, traded hands in July for $12.5 million.


Related Articles

arrow_forward_ios
(iStock)

Bargain shopping: Here’s where resi prices fell the most in Miami in Q2

Bargain shopping: Here’s where resi prices fell the most in Miami in Q2
Luis Castillo, Eric Williams, Danny Finkle and 6701 Red Road

Whole Foods-anchored retail in Coral Gables sells for $47M

Whole Foods-anchored retail in Coral Gables sells for $47M
Rendering of Vox Miami

Treo Group scores loan for mixed-use student housing project in South Miami

Treo Group scores loan for mixed-use student housing project in South Miami
Gov’t Meetings Canceled or Moved Online Due To Coronavirus (Credit: iStock)

Miami, Miami Beach and Fort Lauderdale cancel city meetings

Miami, Miami Beach and Fort Lauderdale cancel city meetings
Coronavirus closures hit South Florida restaurants and stores

Coronavirus closures hit South Florida restaurants and stores

Coronavirus closures hit South Florida restaurants and stores
Rendering of Soleste Twenty2 and Robert Suris

Estate Companies completes 338-unit West Miami project

Estate Companies completes 338-unit West Miami project
2965 West Corporate Lakes Boulevard and Black Creek Group CEO Raj Dhanda (Credit: Google Maps, Blue Vault)

TIAA sells Weston warehouse for $33M

TIAA sells Weston warehouse for $33M
475 Biltmore Way, Somi Center with Douglas Mandel and Benjamin Silver

California investor searching for higher yield buys medical office building portfolio

California investor searching for higher yield buys medical office building portfolio
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...