July 13, 2017 Comments Off on Hines Divests Coral Gables MF for $100M Views: 567 Florida, National News, Southeast

Hines Divests Coral Gables MF for $100M

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Houston-based Hines sold Aviva Coral Gables, a newly-developed, 276-unit mid-rise apartment building located within Coral Gables, FL to Boston-based Berkshire Group for a reported $100 million. Completed in 2015, the transit-oriented property consists of an eight-story, for-rent multifamily development, and is Berkshire’s first acquisition in the Miami market.

Aviva Coral Gables was built on a 2.2-acre parcel, in close proximity to the Village of Merrick Park, a luxury, open-air lifestyle center. The property features an array of amenities, including a resort-quality saltwater pool and sundeck, a cyber-café/business center, a “club-quality” fitness center, ground-floor patios and balconies for all residents, and direct on-floor unit access from all levels of the eight-story parking deck.

Hines’ Michael Harrison says, “Aviva Coral Gables was a significant project for us, and the property provides the buyer a first-class asset with an exceptional location.”

ARA Newmark’s Hampton Beebe, Avery Klann and Jon Senn handled the transaction.

Connect With Hines’ Harrison

Connect With Berkshire Group

Connect With ARA Newmark’s Beebe


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