Aimco, one of the biggest players in the multifamily investment arena, bought a waterfront tower developed by the Arison family in Miami's trendy Edgewater neighborhood for $80.96 million.

The publicly traded real estate investment trust bought 28-story Hamilton on the Bay apartment high-rise from an affiliate of the Arison family. The deal closed Aug. 25, and the deed was posted on the Miami-Dade clerk's website Monday.

The Arison family through affiliates also sold to Aimco a four-unit apartment building across the street from Hamilton Bay at 630 NE 34th St. and an adjacent 20,493-square-foot vacant lot for a combined $8.64 million. This brings the total deal size to $89.6 million.

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Lidia Dinkova

Lidia Dinkova covers South Florida real estate for the Daily Business Review. Contact her at [email protected] or 305-347-6665. On Twitter @LidiaDinkova.