Find Real Estate Agents and Homes for Sale


Real Estate News --> Florida News

Two South Florida apartment complexes hit the market


Larry Stockton of Colliers International South Florida is listing the property on behalf of the seller, a Coral Gables-based company led by siblings Manuel and Jorge Larrieu and Nitza Gonzalez. Together, the Larrieus head the real estate development and ...


Archived Story

By Amanda Rabines | February 22, 2018 02:30PM Sundance Village, Gardens at Nova and Larry Stockton (Credit: Colliers International South Florida) Two South Florida apartment complexes just hit the market unpriced – but are expected to nab between $95 million to $100 million, the broker marketing the property told The Real Deal. The 444-unit portfolio includes Sundance Village, a 304-unit complex at 11325 Northwest 7th Street near Doral; and the Gardens at Nova, a 140-unit property at 6857 College Court in Davie. Larry Stockton of Colliers International South Florida is listing the property on behalf of the seller, a Coral Gables-based company led by siblings Manuel and Jorge Larrieu and Nitza GonzalezTogether, the Larrieus head the real estate development and management firm, Poinciana Homes, which focuses on residential development, according to its website. Records show Poinciana Homes affiliates, Sundance Apartments I Incand Gardens at Nova Manor Inc., own the properties, which are all garden-style communities that feature two- to three-bedroom apartmentsThe complexes were developed between 1988 and 1997, records show. The owners paid about $7.2 million for Sundance Village in 1997, and $11.8 million in 2003 for the Gardens at Nova rental complex, according to recordsThe total amounts to $19 millionThe properties are being listed individually or together. The rental complexes have maintained a roughly 94 percent occupancy rate over the past 10 years, Stockton saidHe estimates the portfolio will trade for a total of about $95 million to $100 million, “depending on the market,” which he says is strong for multifamily investment deals. Last year, the majority of the top multifamily deals in South Florida exceeded $100 million, each. Tags: Commercial Real Estate, doral Short URL Print stLight.options({publisher: "INSERTYOURPUBKEY",shorten: false});

Trending Florida News:


  • South Florida Luxury Home Team, the Recently-Launched Partnership of Broward County Real Estate Dynamos …
  • Woman Who Took in Florida Shooter Wants Control of His Hefty Inheritance
  • How Foreign Nationals Can Buy Florida Investment Real Estate
  • AP Exclusive: Most Florida flood zone property not insured
  • RE/MAX Alliance Group Ranks Among the REAL Trends 500
  • Veteran commercial dealmakers from Thor, RKF launch new firm
  • Court freezes assets in widening SNC-Lavalin probe
  • '99 Homes' brings US subprime crisis to Venice
  • What's the wealthiest zip code in the U.S.? Hint: It's in South Florida
  • Florida Realtors®: Affordable Housing, Water Among Top 2015 Legislative Issues
  • Real estate investor's extortion claim rocks Bal Harbour
  • Fairholme Capital raising its stake in St. Joe
  • The Miami Worldcenter contributes to luxury real estate development
  • Haute Residence’s 2017 NYC Luxury Real Estate Summit Recap: ‘NYC Titans of Business’
  • Board of Governors seeking applicants for 22 trustee positions
  • Weird Florida 2014: Fangate, nude crooks and Satan
  • Orlando in top 10 nationally for sales, real estate jobs
  • Century 21 Real Estate, In Partnership With The Hispanic Heritage Foundation, Provide Scholarship Opportunities To Latinas In Miami
  • New real estate trend? Plaza may replace some stores with apartments
  • Survey shows Fla. real estate outlook improving