The newly completed Alexan Park 82nd Apartments in Doral, Florida, have been purchased by Stockbridge Capital Group for $156 million. Developed by Crow Holdings and Carlyle Group, this multi-family property stands on an 11-acre plot at 8255 Park Blvd in Miami. The transaction sets a record for one of the largest sales in South Florida recently, given the slowdown in rental property transactions due to Federal Reserve interest rate hikes. The property comprises 368 units, with an average price per unit of $424,000. The total square footage is 393,188, with an average price per square foot of $397.

Summary of transaction details

• Property Type: MultiFamily
• Transaction Amount: $156,000,000
• Units: 368
• Average Price per Unit: $424,000
• Total Square Footage: 393,188
• Average Price per Square Foot: $397
• Address: 8255 Park Blvd, Miami
• Market: Miami

Leading the deal on the buyer's side was Terry Fancher from Stockbridge Capital Group. On the seller's side, Michael Levy represented Crow Holdings, while Harvey M. Schwartz represented Carlyle Group. Engler Realty Advisors, under the leadership of Greg Engler, and Walker & Dunlop, represented by Still Hunter, served as the brokers in this transaction.