MIAMI—Berkshires at Walden Lake, a 400-unit multifamily complex in North Miami, FL, has a new owner. Aventura, FL-based Advenir acquired the multifamily asset from Berkshire Property Advisors in a $44.5 million deal.
ARA Boca Raton-based principals Hampton Beebe, Avery Klann, and Dick Donnellan represented Boston-based Berkshire in sale. Advenir acquires and operates multifamily rental communities throughout the United States on behalf of high net worth and institutional investors.
“Berkshires at Walden Lake is a top performing asset within its submarket,” says Beebe. “The property has already renovated 84 units and is achieving healthy premiums over their pre-renovated rents, which is evidence for significant value-add potential.”
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