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Isaac & Liat Toledano Acquire 338-Unit Multifamily Asset In North Bay Village For $83.5M

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SOLD
$83,500,000

Florida

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MultiFamily
Sold 02/05/2025
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Property Image
SOLD

Isaac & Liat Toledano Acquire 338-Unit Multifamily Asset In North Bay Village For $83.5M

7525 East Treasure Drive & 1900 South Treasure Drive

See Similar Deals
MultiFamily
Sold 02/05/2025
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

The property involved in the transaction is a multifamily asset located at 7525 East Treasure Drive and 1900 South Treasure Drive in North Bay Village. The asset spans 3.7 acres and consists of 338 units. The sale was completed for a total price of $83,500,000, resulting in a price per unit of $247,041.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $83,500,000
  • Buyer: Isaac & Liat Toledano - BH Group
  • Seller: Camilo Miguel Jr. - Mast Capital; Josh Baumgarten & Adam Schwartz - TPG Angelo Gordon
  • Broker: JLL
  • Lender: Alex Horn - BridgeInvest
  • Units: 338
  • Acres: 3.7

The acquisition was facilitated by JLL, which acted as the broker for the transaction, while BridgeInvest provided acquisition financing through Alex Horn. This purchase aligns with the current development boom in North Bay Village, reflecting significant investment activity in waterfront properties by companies such as Continuum Company and Related Group.

Players

JLL
JLL
BROKERAGE
BridgeInvest
BridgeInvest
LENDER

Details

SOLD
IMAGE: Camilo Miguel Jr., Isaac Toledano, Josh Baumgarten, Liat Toledano, Adam Schwartz & Alex Horn DATE: 02/05/2025 ADDRESS: 7525 East Treasure Drive & 1900 South Treasure Drive MARKET: North Bay Village ASSET TYPE: Multifamily ~ ACRES: 3.7 BUYER: Isaac & Liat Toledano - BH Group (@BHGroupMiami) SELLER: Camilo Miguel Jr. - Mast Capital (@MastCapital); Josh Baumgarten & Adam Schwartz - TPG Angelo Gordon BROKER: JLL (@JLL) LENDER: Alex Horn - BridgeInvest (@BridgeInvest) SALE PRICE: $83,500,000 UNITS: 338 ~ PPU: $247,041 NOTE: BH Group bought the 338-unit Wake Biscayne Bay Apartments in North Bay Village for $83.5 million from Mast Capital and TPG Angelo Gordon, with JLL brokering the deal and BridgeInvest providing acquisition financing. The purchase adds to North Bay Village’s development boom, where Continuum Company, Related Group, and others are investing heavily in waterfront properties.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$296,657.87
Cash-on-Cash Return-1.27%
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