MIAMI—South Beach multifamily continues heatingup and has seemingly reached a boiling point. CBREis reporting the largest-ever multifamilyportfolio sale on the beach.
Specifically, CBRE Multi-Housing Investment Properties Groupbrokered the sale of eight multifamily propertieswith a combined 113 units in South Beach. CBRE's CalumWeaver led the charge on the portfolio sale.
“This is the largest ever pure multi-housing sale on SouthBeach,” says Weaver, who represented the sellers. “The South Beachrental market is highly fragmented, with most properties totalingless than 20-units, so to see a deal of this size is exceptionallyrare.”
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