AvalonBay Pays $22M for Full-Block Development Site in Miami

AvalonBay pays $22M for full-block development site in Miami

The $90,000-per-unit price is the highest ever paid for a South Miami development site, according to Cushman & Wakefield.

Cushman & Wakefield's Virgilio Fernandez Represents AvalonBay Communities in $22M Acquisition of South Miami Development Site

Cushman & Wakefield announced that the commercial real estate services firm has represented AvalonBay Communities (NYSE: AVB), one of the nation’s largest publicly traded apartment REITs, in the acquisition of a full city block development site in downtown South Miami. AvalonBay acquired the approximately 1.18-acre site from longtime owner Robins Plaza, L.L.C. for a base […] The post Cushman & Wakefield’s Virgilio Fernandez Represents AvalonBay …

AvalonBay Snaps Up Full South Miami Block In $22 Million Tower Bet

AvalonBay Communities has quietly scooped up an entire city block in downtown South Miami for about $22 million, setting the stage for a sizable new apartment tower. The deal clears the way for Avalon South Miami II, a proposed 16-story mixed-use building in the Hometown District that would replace several low-rise commercial parcels. City filings and design-board materials show the site is one of the few remaining full-block development chances…