The Real Deal Miami

NFL player buys North Miami Beach apartment complex

Investor George Heinlein sold the property for $100k per apartment
By Amanda Rabines | April 25, 2018 05:30PM

Waterview Courtyards and Elvis Dumervil (Credit: apartments.com and LinkedIn)

NFL linebacker turned investor Elvis Dumervil is growing his real estate portfolio.

Property records show a company tied to Dumervil’s property management and development firm, Prestige Estates, paid $9.5 million for an apartment complex in North Miami Beach. The buyer financed the deal with a $9 million loan from UC LDBA Fund I Ventures LLC.

Investor and developer George Heinlein, who runs the New York-based investment firm Heinlein Capital Ventures, sold Waterview Courtyards at 16651 Northeast 18th Avenue.

The 94-unit, 2.3-acre property sold for about $100,000 per apartment. It was built in 1957.

Dumervil’s company owns residential and multifamily properties in North Miami, Fort Lauderdale and Oakland Park.

In 2016, he was sued by a real estate broker who claimed she was shut out of an $18.2 million apartment deal in North Miami. That suit was dropped, but Dumervil’s broker later accused another firm of trying to steal the commission in a later suit that did not involve Dumervil.

The professional football player, who grew up in Miami’s Liberty City neighborhood, played for the Denver Broncos, the Baltimore Ravens and the San Francisco 49ers.