Coral Gables Apartments Sell for $78 Million
A 237-unit apartment building near Miracle Mile is the latest in a slew of South Florida multifamiliy deals to close in recent months.
June 14, 2017 at 04:00 AM
2 minute read
A 2013-built Coral Gables apartment complex two blocks from Miracle Mile sold for $78 million.
A company linked to J.P. Morgan Investment Management Inc. sold the Milagro Coral Gables at 2263 SW 37th Ave. last week, according to Miami-Dade County property records.
The buyer was Coral Gables GF Deal L.P. with an address linked to Shearman & Sterling LLP in New York. The limited partnership secured a $41 million loan signed by Edward J. Ryan, senior vice president and director of acquisitions at Wafra Investment Advisory Group Inc. in New York. The lender was Prudential Insurance Co. of America.
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