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AHS Residential sells Dania Beach apartments for $38M
California trust paid $264k per apartment for The Place at Dania Beach
AHS Residential just sold a recently completed apartment complex in Dania Beach for $38 million to a California-based trust.
The Miami-based developer sold the 144-unit, seven-story building at 180 East Dania Beach Boulevard, known as The Place at Dania Beach, to Guillermina Dawson’s Trust for about $264,000 per unit, property records show.
The apartment building totals 211,257 square feet and sits on 1.94 acres. The building also has 6,771 square feet of ground-floor retail.
Cushman & Wakefield’s Robert Given, Troy Ballard, Zachary Sackley and James Quinn represented AHS Residential in the sale, according to a release.
AHS Residential, led by Ernesto Lopes, bought the site in 2013 for $1.6 million. The Miami-based company sold the property soon after completing the apartment complex, signaling the strong demand for multifamily properties in areas outside of South Florida’s urban cores.
Units at the complex range from one to three bedrooms with rents ranging from $1,525 to $3,500, according to Realtor.com.
The project is 97 percent occupied and sits just east of Federal Highway on Dania Beach Boulevard, near the Casino at Dania Beach.
AHS focuses on workforce housing and is currently developing the Deering Groves, a 280-unit rental community in south Miami-Dade County. It owns and operates eight communities totaling 1,500 units in Florida.