In 2021, the Motion at Dadeland Apartments in Miami-Dade County sold for $114 million. Recently, the multifamily development traded for $72.44 million. Lerner Enterprises was the seller.
The South Florida Business Journal reports the buyer of the 294 apartments and 8,000 square feet of retail at 8400 S. Dixie Highway was JRK Property Holdings. Berkadia Commercial Mortgage provided the buyer with a $57.78 million mortgage backed by Fannie Mac. Omar Morales and Jaret Turkell of Berkadia brokered the deal.
It is located on land leased from the county. Adler Group and 13th Floor Investments developed the 25-story tower near the Dadeland North Metrorail Station in 2019.
Units in Motion at Dadeland range from 429 to 1,434 square feet and rent from $1,955 to $4,310. Amenities include a fitness center, a pool, a game room and a media center.
The post Discounted S. Florida Apartments Sell for $72.4M appeared first on Connect CRE.
​Â
