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

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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…

June 2016 Sales in North Miami / North Miami Beach

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6/30/2016: 665 NE 113rd Street, North Miami Beach, FL 33162 (Multifamily): a 18-unit 2-story 11,590 SF apartment complex built 1967 on 0.52 acres was sold for $1,886,500. It was originally listed at $2,000,000. The sale translates to $104,805 / unit or $162/sf. 6/30/2016: 16030 NE 19th Ct, North Miami Beach, FL 33162 (Multifamily): a 27-unit […]

6/1/2016 – Recent sales in North Miami Beach

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5/31/2016 – 17101 NE 19th Ave, North Miami Beach, 33162: a two story 28,513 SF medical building was bought for $3,000,000. The building was built in 1984 and sits on 0.65 acres zoned RO. The sale translates to $105,215 / SF.   5/24/2016 – 765 NE 121st STREET, North Miami 33181: a 14-unit multifamily property […]