Avanti Residential Acquires Nursing Home In Miami For $181M

The nursing home located at 218 NW 8th St in Miami, FL, 33136, was sold for $181,000,000.00. The property features amenities such as a fourth-floor pool, fitness center, yoga and spin studios, salon, dog park, clubroom, café, gaming lounge, and a business center. The nursing home offers a range of floor plans from studios to three-bedroom units and provides immediate access to I-95.

Summary of transaction details:

• Property Type: Nursing Home
• Transaction Amount: $181,000,000.00
• Market: Miami
• Seller's Representative: Still Hunter (Walker & Dunlop)
• Buyer: Avanti Residential

Avanti Residential, the buyer of the nursing home, has now invested nearly $500 million in Florida with this acquisition marking their fourth investment in South Florida in the past year. Avanti is actively seeking Class A apartments in Florida and other key markets nationwide. The seller of the property was The Estate Cos., a South Miami-based company focusing on development and investment opportunities in South Florida.