Valeris Capital Acquires Remi On The River Multifamily In Miami For $108.35M With Lender Northwestern Mutual

The multifamily asset located at 999 Northwest 7th Street in Miami has been sold for $108,350,000. The property encompasses 342 units and has a total square footage of 481,385, resulting in a price per unit of $316,813 and a price per square foot of $225.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $108,350,000
• Units: 342
• Square Footage: 481,385
• Price Per Unit: $316,813
• Price Per Square Foot: $225
• Buyer: Valeris Capital
• Seller: Camilo Miguel Jr. - Mast Capital; Jonathan Martin - AEW Capital Management
• Brokers: Robert Given, Troy Ballard & Mike Mulkern - CBRE
• Lender: Northwestern Mutual Life Insurance
• Financing: $72.25 million five-year mortgage

Mast Capital and AEW Capital Management were the sellers of the 342-unit property, which was sold to 999 NW 7th ST Remi LLC based in Dorado, Puerto Rico. The complex was constructed in 2024, showcasing the involvement of established entities in the multifamily sector and highlighting the strategic transaction within the Miami market.