MIAMI-A joint venture between AREA Property Partners and Wood Partners has bought the 324-unit Class A asset named Terrazas River Park Village situated at 1861 N.W. South River Drive beside the Miami River for an undisclosed amount in an off-market deal.
AREA plans to lease the asset as high-end apartments, which was constructed as for-sale condos. The rental at Terrazas started in the middle of July 2010 and leased almost all of its inventories. For the full story, go to Florida Real Estate Journal.
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