The property comprises two and three-story apartment buildings in Miami's Doral/Airport West submarket. Occupancy at the time of sale was 95%.
"The Doral/Airport West area is ideal for apartment investment due to its limited supply of undeveloped multifamily land, immediate proximity to a major employment center and convenient access to regional expressways," Richard Donnellan, Atlanta Realty's managing director, says in a prepared statement.
The transaction brings ARP's total sales to date to $435 million.
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