April 6, 2020
CityPlace Doral Flats, a mixed-use apartment complex in South Florida, has traded hands for $100 million. Norfolk, VA-based Harbor Group International acquired the 303-unit asset from a partnership that included Miami-based The Related Group, PGIM Real Estate and Shoma Group.
The 95%-leased project with two, eight-story towers was developed in 2017 at 3555 N.W. 83rd Ave. It includes studios, one, two and three-bedroom apartments. Amenities include a fitness facility, party room with gaming tables, bar and lounge, and a sixth level pool, outdoor grill, and dining/bar area
CityPlace Doral Flats was developed on top of the 300,000-square-foot retail component of CityPlace Doral. The $800-million mixed-use project spans 55 acres and includes 40 retail, restaurant and entertainment tenants. The center is anchored by the 550-seat CinéBistro and has more than 1,000 residential units, including 150 single-family homes developed by Shoma, 700 rental apartments and 320 condos.
Walker & Dunlop’s Chris Conklin represented the sellers of The Flats.
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