MIAMI—It's CBRE's largest multifamily sale on South Beach this year. AnNell Apartments, a 54-unit multifamily property, has sold to a foreign all-cash buyer.

The CBRE Multi-Housing Private Capital Group arranged the sale of the apartment community, which is located 700 Euclid Avenue in Miami Beach. CBRE represented the seller, Investors Management Group, Inc., a Los Angeles-based private equity firm. Bar Invest Florida bought the multifamily property.

“Over the last three years we have seen buyers from all over the world position themselves to acquire multi-housing properties on Miami Beach,” says Calum Weaver, senior vice president of CBRE's Multi-Housing Private Capital Group. “South Beach is an internationally recognized location that provides exceptionally strong multi-housing market fundamentals.”