Robert Given, Zachary Sackley, Troy Ballard and Neal Victor Were Selected to Bring the 196-Unit Luxury Mid-Rise Apartment Community to Market for an Ownership Group Comprising Estate Investment Group, Mattoni Group and Fortune Capital Partners
MIAMI, FL, January 25, 2017 — Cushman & Wakefield announced today that it has been named exclusive advisor in the disposition of Soleste Club Prado, a newly-constructed, 196-unit luxury mid-rise apartment community in West Miami, FL.
Cushman & Wakefield’s South Florida Institutional Multifamily Team of Vice Chairman Robert Given, Executive Managing Director Zachary Sackley, Senior Managing Director Troy Ballard and Director Neal Victor have been chosen to market the asset for an ownership group comprising Estate Investment Group, Mattoni Group and Fortune Capital Partners. The asset will go to market unpriced.
Soleste Club Prado is an eight-story, mid-rise multifamily asset completed in 2016. The 196-unit community offers a mix of one-, two- and three-bedroom units. The average unit is 862 square feet. The average market rent is $2,170 ($2.52 per square foot). The property is currently 80 percent leased.
Soleste Club Prado has an expansive amenity package and caters to a wide variety of residents ranging from young professionals to families who seek an upscale lifestyle. Community features include a hotel-inspired pool with spa, sun deck, and private cabanas; outdoor kitchen and bar; resident lounge complete with cyber café, business center and demonstration kitchen; kids gaming zone; rooftop serenity garden; state-of-the art health and fitness club, high-tech cardio equipment and free weights; Fitness On Demand, yoga and spin studio; dry sauna and steam room; and controlled-access garage parking.
Each unit at Soleste Club Prado features 9-foot ceilings with 10-foot ceilings in the top floor units; porcelain flooring throughout the living areas and carpet in the bedrooms; full designer lighting packages with fans in the living room and bedrooms; designer panel doors; stainless steel appliances, quartz countertops, soft-close custom kitchen cabinetry, pendant lighting, designer plumbing fixtures, spacious soaking tubs and showers, full-size stackable washer/dryers, impact windows and electronic thermostats.
Situated at the virtual epicenter of Greater Miami, Soleste Club Prado is nearly equidistant to every major job center in the area. Coral Gables and Blue Lagoon Office Park are less than three miles away, while strong east/west connectivity make Brickell and Downtown Miami easily accessible.
Located on the edge of Coral Gables at 950 SW 57th Avenue Soleste Club Prado provides exceptional access to 35 million square feet of office space within six miles of the property. The Miami International Airport, located just north of the asset, ranks as the number one international freight airport in the U.S, and has allowed Doral to blossom into a 97 million square foot industrial market. The property is situated within five miles of eight hospitals, with a total of 3,822 beds, and two major South Florida universities, Florida International University (FIU) and the University of Miami, with a total of 72,000 students and approximately 25,000 faculty members. The property is also walkable to a neighborhood Publix and a variety of local restaurants.
“We are really excited about this assignment,” said Given. “Soleste Club Prado is located in a community steeped in rich Miami culture and near the historic Biltmore Hotel. The dynamics of the location will appeal to investors from New York and around the globe. We are anticipating significant interest.”
“Soleste Club Prado represents the newest generation of apartments with best-in-class amenities and finishes,” added Ballard. “Its exquisite finishes and top-quality construction are evident in every aspect of the community.”
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
About Estate Investments Group
Estate Investments Group is a full service, vertically integrated real estate investment, development and construction team leveraging 100+ years of managing client relations in the Florida market. Please visit www.eigfl.com.
About Fortune Capital Partners, Inc.
Fortune Capital Partners, Inc. is a multifaceted, full service real estate equity company headquartered in Coral Gables, Florida. Please visit www.fcpmiami.com.
About Mattoni Group
Mattoni Group is a forward-thinking, vertically integrated real estate investment and management firm headquartered in Miami with a growing portfolio of residential and commercial properties across the region. Please visit www.mattonigroup.com.