The property, which Jupiter bought in 2000, was built in 1986 and 1987. It is located on Miami Gardens Drive, just west of Interstate 75. Vermillion Apartments consists of six, five-story buildings that total 300,300 sf. The property was 94% occupied at the time of the sale.
Michael Stein, managing director of Aztec Group Inc., a real estate investment and merchant banking firm based in Miami represented Jupiter in the transaction. There was no co-broker.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
