Goldman, Kerra Snag South Florida Apartment Complexes Amid Multifamily Sales Rebound
South Florida's multifamily investment sales market is showing signs of recovery after years of slower activity, according to recent deals. Goldman Sachs dropped $154.5 million for a 397-unit apartment complex in Davie from Mill Creek Residential, while Kerra Investments paid $73 million for the Aviara East Pompano complex in Pompano Beach.
The Modera Academical Village I in Davie, completed last year by Mill Creek, consists of an eight-story building on 3.1 acres and traded at $389,169 per unit. The Aviara East Pompano complex has a pair of eight-story buildings and a six-story building completed this year on 5.1 acres.
Kerra assumed the seller's debt and increased it to $58 million, with Ladder Capital as the lender. This deal values each unit at $320,175.