Partnership buys Coral Way apartments near Brickell for $13M

Company led by Tom Cabrerizo Maurice Cayon paid $146k per unit

Miami /
Jul.July 05, 2018 02:40 PM

2110 Southwest Third Avenue and Tom Cabrerizo

CFH Group principal Tom Cabrerizo and Maurice Cayon of Cayon Development Group just picked up an apartment complex on Coral Way near Brickell for $12.8 million, property records show.

Dalton Properties Inc., led by Alfredo Sesana and Paul Garcia, sold the 88-unit complex at 2110 Southwest Third Avenue for about $145,700 per apartment. The two eight-story buildings were completed in 1994 on a nearly 1-acre lot. The property last sold for $760,00 in 1988.

Cabrerizo and Cayon’s TMC Apartments LLC financed the deal with a $10.7 million loan from City National Bank, according to property records.

This isn’t the first time the investors work together. Cabrerizo and Cayon recently completed a 226-unit apartment development in Hialeah called Las Palmas.

The Coral Way apartment complex is close to the Brickell neighborhood, where recently completed developments include Brickell City Centre and Related Group’s SLS Lux.


Related Articles

arrow_forward_ios
From left to right: 3333 South Port Royale Drive in Fort Lauderdale with Invesco CEO Martin Flanagan and Mill Creek CEO William MacDonald (Invesco, Mill Creek)

Mill Creek, Invesco sell Fort Lauderdale apartments for $180M

Mill Creek, Invesco sell Fort Lauderdale apartments for $180M
Michael Stern and a rendering of the project (Getty, JDS Development/SHoP Archictects)

Michael Stern pays $24M for future site of 62-story Brickell tower

Michael Stern pays $24M for future site of 62-story Brickell tower
Major Food Group's Jeff Zalaznick and the Design District location (iStock)

New York restaurateur Major Food Group to open three concepts in Miami

New York restaurateur Major Food Group to open three concepts in Miami
Avalon Communities CEO Timothy J. Naughton and renderings of the project with AvalonBay head (Corwil Architects)

Apartment developer buys South Miami Winn-Dixie site from Bacardi JV

Apartment developer buys South Miami Winn-Dixie site from Bacardi JV
Kevin Neal, Trinsic Residential’s managing director for South Florida, and a rendering of the project

Trinsic set to build 292-unit apartment complex in Delray Beach

Trinsic set to build 292-unit apartment complex in Delray Beach
Steelblock CEO Ignacio Murman and 13300 Alexandria Drive in Opa-locka (Steelblock, Google Maps)

Steelblock buys Opa-locka apartment complex for $8M

Steelblock buys Opa-locka apartment complex for $8M
A rendering of Adela at MiMo Bay, Michael Van Der Poel of ACRE, and QuadReal CEO is Dennis Lopez

American Legion rental project in MiMo District launches leasing

American Legion rental project in MiMo District launches leasing
From left: A rendering of Deco Green and developer Ricardo Hernandez, and a rendering of Element with developer Norman Weinstein (Credit: Dominick Ranieri Architect and Rosemurgy Properties)

Lake Worth Beach CRA approves two apartment complexes

Lake Worth Beach CRA approves two apartment complexes
arrow_forward_ios

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

Loading...