KEY WEST, FL—It's not often you hear about Key Westmultifamily assets trading. But that's not theonly thing that makes this deal interesting.
In a joint venture with Rockpoint Group,Miami-based Mast Capital has acquired a fee simpleinterest in West Isles Club. The sale price was $39.5 million, or$205,700 per unit.
West Isles Club is a 192-unit multifamilycommunity in Key West, FL. The firms purchased the 6.23-acreproperty in an off-market transaction that gives them a foothold inone of America's highest-barrier-to-entry markets.
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