Amid growing demand for university housing, Adam America buys multifamily complex near FIU

The New York-based real estate investment firm paid $555,555 per unit for the properties

TRD MIAMI /
Sep.September 11, 2019 12:50 PM
10726 Southwest 7 Street, Dvir Cohen Hoshen and Omri Sachs (Credit: Google Maps)

10726 Southwest 7 Street, Dvir Cohen Hoshen and Omri Sachs (Credit: Google Maps)

Developers are increasingly seeking to build new upscale student living next to Florida International University as demand for that kind of housing grows.

Now, Adam America Real Estate has acquired a 36-unit multifamily development near the campus in Sweetwater for $20 million.

The New York-based real estate investment firm paid $555,555 per unit for the properties at 10726 Southwest 7 Street, records show. The seller was Steef and Rogelio Foch of Hialeah Gardens.

Bank Leumi provided a $12 million acquisition loan on the 1.7-acre property, which was last purchased in 1990 for $900,000.

The collection of multifamily properties is directly in front of Florida International University, which has an undergraduate enrollment of close to 50,000 students.

Global City Development is planning to build a 400,000-square-foot luxury student living project with Toll Brothers next to FIU, which will have 293 units and 1,086 beds.

Adam America was founded by Dvir Cohen Hoshen and Omri Sachs in 2009. The company focuses on multifamily properties in New York. Its development portfolio includes nearly 15 projects with over 1,800 apartments, according to its website.


Related Articles

arrow_forward_ios
From left: Henry Torres, Jorge Perez, Alicia Cervera Lamadrid, Gil Dezer and Joseph Kavana (iStock)

“Anything and everything is negotiable”: Incentives for condo buyers mount in Miami

“Anything and everything is negotiable”: Incentives for condo buyers mount in Miami
(iStock)

A buyer’s market: Condo supply soars in downtown Miami

A buyer’s market: Condo supply soars in downtown Miami
Judge gives Regalia developer A year to sell remaining units

Bankruptcy judge gives Regalia developer a year to sell PH and beach house

Bankruptcy judge gives Regalia developer a year to sell PH and beach house
Alta Developers CEO Raimundo Onetto and Le Parc at Brickell rendering

Le Parc at Brickell condo association sues Alta Developers and partner for alleged construction defects

Le Parc at Brickell condo association sues Alta Developers and partner for alleged construction defects
(Credit: iStock)

Luxury condo prices drop in downtown Miami amid lockdown

Luxury condo prices drop in downtown Miami amid lockdown
The pedestrian bridge that collapsed (Credit: ANTONI BELCHI/AFP via Getty Images)

Florida restarts plans for bridge at FIU, two years after deadly collapse

Florida restarts plans for bridge at FIU, two years after deadly collapse
From left: Roberto Blanch, Dennis Eisinger, Sebastian Jaramillo, and Paul Kaplan

South Florida HOAs and condo associations prepare for a drop in collections

South Florida HOAs and condo associations prepare for a drop in collections
“The day of reckoning is coming” warns Miami condo market expert Peter Zalewski

“The day of reckoning is coming” warns Miami condo market expert Peter Zalewski

“The day of reckoning is coming” warns Miami condo market expert Peter Zalewski
arrow_forward_ios

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

Loading...