Asset Type
Multifamily
Location
Miami, FL
Year Acquired
2020
Square Footage
920 Units
Occupancy Rate
94%
Current Value
$318M
Property Overview
Coastal Palms Multifamily Collection is a portfolio of three luxury apartment communities spanning 920 units across Miami’s most sought-after coastal neighborhoods. Each property features resort-style amenities including rooftop pools, fitness centers, co-working lounges, and concierge services. Acquired during a period of market dislocation, the portfolio has since undergone a comprehensive unit and common area renovation program that has repositioned it at the top tier of the Miami rental market, capturing premium rents from a highly qualified tenant base of professionals and executives.
Financial Highlights
$210M
Acquisition Value
$318M
Current Valuation
$16.4M
NOI
5.1%
Cap Rate
17.8%
IRR
2.1x
Equity Multiple
Gallery