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Yoram Izhak Of IMC Equity Group Acquires Pine Grove Apartments From Benjamin Bakst For $33.5M

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SOLD
$33,500,000

Florida

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MultiFamily180,872 SF
Sold 01/29/2026
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SOLD

Yoram Izhak Of IMC Equity Group Acquires Pine Grove Apartments From Benjamin Bakst For $33.5M

24101 South Dixie Highway

See Similar Deals
MultiFamily180,872 SF
Sold 01/29/2026
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$185
Total Square Footage:180,872 SF
Transaction Type:Sale

The 204-unit Pine Grove Apartments, located at 24101 South Dixie Highway in Homestead, sold for $33.5 million. The property spans 5.85 acres and features a total square footage of 180,872, resulting in a price per unit of $164,216 and a price per square foot of $185. The sale reflects current multifamily market conditions in the area.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $33,500,000
  • Buyer: Yoram Izhak - IMC Equity Group
  • Seller: Benjamin Bakst - Marlin Spring US Realty
  • Lender: Wells Fargo
  • Units: 204
  • Acres: 5.85
  • Market: Homestead

Yoram Izhak led the acquisition for IMC Equity Group, while Wells Fargo provided a mortgage of $27.79 million for the transaction. This sale is down from a previous valuation of $44 million in 2021, indicating the shift in multifamily valuations in the market due to various economic factors.

Players

Yoram Izhak
Yoram Izhak
19 deals$457.7M volume
BUYER
Wells Fargo
Wells Fargo
LENDER

Details

SOLD
IMAGE: Yoram Izhak & Benjamin Bakst DATE: 01/29/2026 ADDRESS: 24101 South Dixie Highway MARKET: Homestead ASSET TYPE: Multifamily ~ ACRES: 5.85 BUYER: Yoram Izhak - IMC Equity Group (@IMCEquityGroup) SELLER: Benjamin Bakst - Marlin Spring US Realty LENDER: Wells Fargo (@WellsFargo) SALE PRICE: $33,500,000 UNITS: 204 ~ PPU: $164,216 SF: 180,872 ~ PPSF: $185 NOTE: The 204-unit Pine Grove Apartments in south Miami-Dade sold for $33.5M, down from $44M in 2021, with IMC Equity Group’s Yoram Izhak leading the acquisition and Wells Fargo providing a $27.79M mortgage.The sale reflects softer multifamily valuations in the area due to higher interest rates, ongoing new construction, and relatively modest rents.

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