The Blackstone Group paid $117,000,000 for the Portofino at Biscayne, an apartment complex in North Miami.

Posted on Posted in Multifamily, Sales

The 871 unit, 792,499 square-foot property was built in 1974. It sits on 23-acres at 14000 Biscayne Boulevard. Blackstone financed the deal with a nearly $90 million mortgage from Wells Fargo. Units range from 510-square-foot studios to 1,100-square-foot two-bedrooms and include balconies, according to Portofino’s website. Details…

Two appartment buildings were sold for combined $11,000,000 in North Miami Beach

Posted on Posted in Multifamily

The first property (1495 NE 167th Street) is located in unincorporated donut-hole area within North Miami Beach. The second property (2350 Northeast 173rd Street) is close to Greynolds Park and new construction project Marina Palms. New York-based Burke Leighton has bought the two buildings from Grand Island Square, a partnership led by Eyal Mehaber and Kris Persaud. […]