Investment firm buys Lauderhill apartments in Opportunity Zone

Treevita paid $19M for the properties from an affiliate of KVR Properties

Miami /
Dec.December 31, 2020 11:30 AM
Treevita’s Hugo Cascavita and 5211-5458 Northwest 27th Street and 5411 Northwest 25th Court, Lauderhill (Google Maps)

Treevita’s Hugo Cascavita and 5211-5458 Northwest 27th Street and 5411 Northwest 25th Court, Lauderhill (Google Maps)

UPDATED, Jan. 4, 11 a.m.: Real estate investment firm Treevita bought 180 apartments in Lauderhill for $18.8 million.

The buildings are in a federal Opportunity Zone, and located at 5211 to 5458 Northwest 27th Street and 5411 Northwest 25th Court, according to records. The properties total 79,000 square feet. The deal included more than an acre of land near 55th Avenue and 26th Street. The properties were built in the 1970s.

The deal includes units at the New Colony apartments at 5420 Northwest 27th Street. An online listing shows an 800-square-foot, one-bedroom apartment for $1,150 a month, and a 1,000-square-foot, two-bedroom available for $1,350.

North Miami Beach-based Treevita is led by Hugo Cascavita.

The seller was an affiliate of KVR Properties, which paid $14.2 million for the apartments in 2007. Arvind Reddy leads KVR.

Franklin Street’s Dan Dratch, Greg Matus, Michael Dolgos and Travis Jones represented the buyer and seller.

New Colony apartments brings in $2.4 million in annualized income and net operating income of $1.5 million, according to marketing material.

Other multifamily properties in Lauderhill that sold this year include an affordable housing complex that Code Capital Partners bought for $44.6 million in February. And in May, Prism Multifamily Group paid $53.5 million for the 398-unit Hamlet Plantation apartments.




    An earlier version of this story included an incorrect unit count.


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