Alphabet soup: AEW pays AHS $57M for Homestead apartments

Deal equates to about $203K a unit

Miami /
Jan.January 13, 2021 05:30 PM
AHS Residential CEO Ernesto Lopes and AEW Global CEO Jeff Furber with 13700 Southwest 256th Street (Google Maps)

AHS Residential CEO Ernesto Lopes and AEW Global CEO Jeff Furber with 13700 Southwest 256th Street (Google Maps)

A Boston-based global real estate investment manager paid $57 million for a 281-unit apartment complex near Homestead.

AEW Capital Management bought the complex at 13700 Southwest 256th Street, called “Deering Groves,” according to records. The three-story complex of about 256,000 square feet was built in 2019. The deal equates to about $203,000 a unit.

The developer of the apartments, Miami-based AHS Residential, sold the complex to AEW. AHS bought the development site on the southwest corner of Southwest 256th Street and Southwest 137th Avenue in 2014 for $2 million. AHS is led by Ernesto Lopes.

The complex has one- to three-bedroom units available for monthly rents of $1,250 to $1,695. Amenities include a gym and pool.

AEW, led by Jeff Furber, is expected to sell the Phillips Point office towers in West Palm Beach to Related Companies for $282 million.

Last year, AHS scored a $33 million construction loan to build an apartment complex in front of Kendall-Tamiami Executive Airport in Miami, and a $34.4 million construction loan to build an apartment project near West Palm Beach.






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