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Wednesday, February 10, 2010

Sunny Isles Apartment Building Sold


Prime location forNet Lease Properties

SUNNY ISLES BEACH, Florida - The 308-unit, Vista View Apartments sold for $31.25 million. The Buyer was Jamestown, a real estate investment and development firm with a home base in Atlanta. Jamestown actively pursues distressed residential and hotel opportunities that advance the firm’s strategic focus.
Jamestown firmly believes in the growth of the Miami submarket and the potential of Beach Place.
The Apartments are located at 17094 Collins Avenue in Sunny Isles Beach, Florida 33160.

Vista View Apartments is four buildings near Sunny Isles Beach. Jamestown will make renovations and upgrades over the next few years and continuing to operate the apartments under a fresh identity known as Beach Place.
Sunny Isles is close to the always exciting South Beach, Miami Florida.
This is not a Triple Net Lease Property opportunity but still a nice investment.