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

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.