Sale of multi-housing community in southern Miami-Dade county closes
JLL Capital Markets closed the sale for the 281-unit Sophia Square Apartments in South Dade, Florida
MIAMI, September 21, 2022 – JLL Capital Markets announced today that it closed the sale of Sophia Square Apartments, a 281-unit, Class A, garden-style apartment community located in southern Miami-Dade county.
JLL marketed the property on behalf of the seller, Grand Peaks Properties. Brookline Investment Group acquired the asset.
Completed in 2019, this newly built, institutional-quality asset features one-, two- and three-bedroom floorplans with an average size of 872 square feet. Unit amenities include granite countertops in kitchen and baths, stainless-steel appliances, modern cabinetry, nine-foot ceilings, in-unit washers and dryers, vinyl plank flooring and private balconies or patios. Community amenities include gated entrance, a fitness center, a resort-inspired swimming pool, a multi-purpose clubroom, a children’s play area and a dog park.
Located at 13710 SW 256th Street, Sophia Square, benefits from its immediate accessibility to US-1 and Florida’s Turnpike, placing it less than 30 minutes from Kendall, Doral, Dadeland and Coral Gables. It is also within walking distance to the soon-to-be-built Bus Express Rapid Transit corridor that will operate on US-1. The property is proximate to an array of area amenities, including Homestead Bayfront Park, Homestead Speedway and The Falls mall, as well as top-rated schools, major employers and health facilities.
The JLL Capital Markets Investment Advisory team representing the seller was led by Managing Director Maurice Habif, Director Simon Banke and Director Ted Taylor. This JLL team has sold nearly $300M of multi-family assets for Grand Peaks this year.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Grand Peaks
Grand Peaks is a fully integrated real estate investment firm that is dedicated to the highest standards of all aspects of multifamily investment including acquiring, developing, redeveloping, and managing multifamily apartments in core markets throughout the nation. Grand Peaks consists of two vertically integrated companies; Grand Peaks Properties, Inc. and Grand Peaks Property Management. Grand Peaks combines the expertise and discipline of an institutional firm with the responsiveness and drive of a private venture group which enables us to be nimble and make equitable decisions for our investors and employees. Grand Peaks has since grown into a multi-billion-dollar company with properties and offices in Seattle, Washington; Portland, Oregon; Denver, Colorado; Dallas and Fort Worth, Texas; and Miami and Fort Lauderdale, Florida. For more information on Grand Peaks, please visit https://grandpeaks.com/ .
About Brookline
Brookline Investment Group invests and operates income properties in target markets across the United States. Since its founding in mid-2013, Brookline has acquired approximately 5,000 apartment units. For more information on Brookline, please visit https://www.brooklineig.com/ .