Baptist Health sells Kendall apartment complex for $17M

Property sold for $169K per unit

Feb.February 20, 2020 01:30 PM

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.

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.

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