Grand Peaks Properties Acquires Miami Multifamily For $63M With AEW Capital Management As Seller

The multifamily property located at 10605 Hammocks Boulevard in Miami has been sold in a recent transaction. The transaction took place on March 15, 2021, and the property was purchased by Grand Peaks Properties, represented by Luke Simpson. The seller of the property was AEW Capital Management, represented by Jeff Furber.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $63,000,000
• Square Footage: 276,816 square feet
• Price per Square Foot: $228
• Number of Units: 264
• Price per Unit: $238,636
• Acres: 9.6
• Price per Acre: $6,562,500

Luke Simpson of Grand Peaks Properties and Jeff Furber of AEW Capital Management played crucial roles in the deal. Luke Simpson represented the buyer, Grand Peaks Properties, while Jeff Furber represented the seller, AEW Capital Management.