June 22, 2016
Dome Equities, headquartered in New York City, has bought the 240-unit, Class A, Alta Mira from developer Wood Partners. The sales price was undisclosed, with the Dade Central Appraisal District assessing the market value at approximately $19.6 million. According to local reports, the property was completed in 2013 at a cost of $31.9 million.
Alta Mira, at 12016 NE 16th Ave., consists of one-, two- and three-bedroom units, with an average square footage of 932. The new owner’s value-add strategy for its newest acquisition includes vinyl plank wood flooring in each unit, granite countertops, upgraded sinks in kitchens and bathrooms, gated access, exterior repaint, enhanced landscaping, and poolside cooking facilities.
The Alta Mira buy was Dome Equities’ eighth in the Sunshine State. The investor also owns properties in Jacksonville, Venice and Orlando.