Miami, Fl – Today SAR Apartment Capital, Tribeca Funds, and Artizen Development are announcing the successful acquisition of a 60-unit multifamily property located at 3800 NE 168 Street in North Miami Beach, Florida for US$ 6,500.000.
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SAR Apartment Capital LLC is a multifamily investment firm based in Miami, Florida. With over $162 million in assets under management, the company is focused on major metropolitan statistical areas that demonstrate low vacancy, consistent rent growth, and a growing Real GDP.
Sar Apartment Capital and its partners identified the great potential for this acquisition given the pricing, strong demand for rental housing in the area, and the possibility of building additional units within the limits of the lot.
SAR Apartment Capital continues expanding its Florida portfolio with the acquisition of the 54-unit, rental community “The Cottages At Magnolia” in Tallahassee.
SAR Apartment Capital identified an opportunity to double the unit count to 108 apartments by converting the oversized 4 bedroom/ 4 bathroom apartments into smaller, yet sizeable models.