Baptist Health sells Kendall apartment complex for $17M

Property sold for $169K per unit

Tom Cabrerizo of CFH Group and 10791 North Kendall Drive
Tom Cabrerizo of CFH Group and 10791 North Kendall Drive

Baptist Health South Florida sold an apartment complex in Kendall for $16.9 million, a slight discount from its purchase price in 2007.

Baptist Health sold the 100-unit complex at 10791 North Kendall Drive for $169,000 per unit, records show. CFH Group, led by Tom Cabrerizo, purchased the property.

The apartments were built in 1968 and sit on 3.8 acres. The complex offers one- and two-bedroom apartments. It was last purchased right before the recession for $17.5 million in 2007, records show.

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CFH Group is a Miami-based real estate development and property management company with a portfolio of nearly 6,000 multifamily units and more than 500,000 square feet of commercial property throughout the Southeast, according to its website.

Baptist Health, the Miami-based non-profit healthcare organization, has been buying real estate throughout South Florida. In January 2019, Baptist acquired a former Toys “R” Us in Royal Palm Beach for $15.8 million.

Baptist is also partnering with Belmont Village Senior Living to build a luxury senior living facility on a 2.8-acre site at 250 Bird Road in Coral Gables. The site was previously home to a planned luxury condo development to be called The Collection Residences.