Miramar Multifamily Complex Fetches $70 Million

Texas-based Mill Creek Residential Trust LLC sold the Modera at Miramar multifamily complex at 11338 SW 45th Pl. in Miramar to California-based IMT Capital for $70 million, or approximately $201,000 per unit.
Located in the Silver Falls submarket of Broward County, the 399,851-square-foot community consists of two three-story buildings that were built in 2012. The complex contains 349 units, comprised of one-, two-, and three-bedroom apartments with asking rents between $1,320 and $2,060 per month.
Marc de Baptiste, Avery Klann, and A. Hampton Beebe with Apartment Realty Advisors (ARA) represented the seller, and were the sole brokers in the sale.
 
Source:  CoStar