GID acquired the Windsor Biscayne Shores multifamily complex near North Miami for $56 million.
Advenir is selling a 9.6-acre, 240-unit garden apartment community at 12010 Northeast 16th Avenue in the unincorporated Miami-Dade County Shore Biscayne neighborhood, according to records and real estate database Vizzda. GID assumed the seller’s $38.7 million loan on the property.
Originally built in 2013, Windsor consists of nine three-story buildings covering more than 272,000 square feet, according to records and Vizzda. It’s near Whole Foods at 12150 Biscayne Boulevard.
The transaction breaks down to $233,200 per unit.
Apartments.com shows that Windsor offers one- to three-bedroom apartments with monthly rents ranging from $2,013 to $3,212.
about to happenHeadquartered in Aventura, established in 2016 as $52.7 million Records show the property was developed by Atlanta-based Wood Partners.
Led by the Vecchitto family, Advenir is an investor, developer and manager of multifamily and single-family homes with a portfolio valued at $2.5 billion and $1 billion in equity under management, according to its website. Stephen Vecchitto is Managing Director and David Vecchitto is Chief Executive Officer.
Boston-based GID is a residential and commercial real estate investor and manager, according to its website. Its portfolio is valued at $29.7 billion and includes more than 52,000 units and 27 million square feet of commercial space. Gregory Bates serves as CEO and W. Gardner Wallace serves as Chairman.
Last year, GID dropped $149.8 million Windsor Apartments is located at 8425 Northwest 41st Street in the eight-story, 385-unit Céntrico in the mixed-use Downtown Doral development.
Also in Doral, GID develops 249 apartments with ZOM Living Dora’s Windsor 2015 at 4401 Northwest 87th Avenue.It also partnered with Ram Realty Advisors to build 332 units Dora’s point of view Windsor held in 2017 at 2541 Northwest 84th Avenue.
Some condos are being developed in the Coast Biscayne area between North Miami and Miami Shores. In August, Andrew Korge of Integra Investments, Korgeous Group and David Larson of DCL Capital were awarded $101.4 million Construction loan for 16-story, 275-unit rental building and 105 townhomes at 11295 Biscayne Boulevard.
In 2021, AMAC and ROVR Development complete eight floors of 402 condominiums Key Biscayne Building 112 Address: 11200 Biscayne Boulevard.
