MIAMI-The 440-unit Verandah Apartment Homes complex in Miami-Dade’s Country Club section has been sold for $25 million or $56,818 per unit.

CB Richard Ellis senior vice president Jay H. Massirman and associate Michael A. Stein acted as exclusive advisors to seller Archon Management Services. The buyer, BH Equities Inc., assumed an approximately $17 million mortgage as part of the deal.

The property, comprising 18 three-story buildings, was completed in two phases (1990 and 1995) at 18802 NW 57th Ave. Based on its 435,584 sf of net rentable area, the price equates to $57.39 per sf.

There are 96 one-bedroom/one-bath units averaging 758 sf and monthly market rent of $732; another 312 two-bedroom/two-bath units averaging 1,048 sf with monthly market rent of $838; and two three-bedroom/two-bath layouts averaging 1,120 sf and $879 in monthly rent.

Project amenities include intrusion alarms in each unit, terraces, tennis court, swimming pools with sundeck area and Jacuzzi, and a fitness center. Parking is provided for 950 vehicles, or 2.15 spaces per apartment.

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