Newly Constructed Class A Multifamily Financing Opportunity · Fort Lauderdale Hallandale N. Miami...
Transcript of Newly Constructed Class A Multifamily Financing Opportunity · Fort Lauderdale Hallandale N. Miami...
THE OFFERING
BlueGate Partners LLC (“BlueGate”) has been engaged by FCI Residential (the “Owner”)
to secure senior financing for The Park at Kendall in Miami, Florida (the “Property”). The
Property is a newly-constructed Class A garden-style apartment community consisting of 296
one-, two- and three-bedroom units in 14, three-story structures. The Property includes numer-
ous amenities housed in and around an expansive clubhouse that includes a state-of-the-art
fitness center with distinct spinning and aerobics rooms, a beach-entry pool with cabanas
and a children’s playroom and playground, amongst other options. Located less than 20
miles southwest of Downtown Miami, the Property offers residents excellent access to local
and regional amenities. With its exceptional finishes and lengthy list of community amenities,
The Park at Kendall sets the new standard for luxury garden apartment living in South Miami.
PROPERTY DETAILS
Address: 16480 SW 137th Avenue, Miami, FL 33177Parcel Size: 12.24 Acres Number of Buildings: 15Number of Units: 296 Net SF: 302,240Parking: 76 garage, 44 carport and
463 surface spaces
M i am i , F l o r i d a
Newly Constructed Class A Multifamily Financing Opportunity
Exclusively Offered By
MARK A. DELILLO JEFFREY D. BASTOW ERIC M. BYLIN CRAIG J. CALLAWAYManaging Partner Managing Director Managing Partner Senior Vice [email protected] [email protected] [email protected] [email protected] 212.381.7601 561.655.1742 561.655.1748
INVESTMENT HIGHLIGHTSTREMENDOUS ACCESS TO MIAMI AND LOCAL ATTRACTIONSThe Property is located on SW 137th Avenue which runs north-south and provides access to
major Miami area roadways. Located less than 2.5 miles west of the Florida Turnpike and less
than five miles west of Highway US-1, residents of the Property can reach downtown Miami in
as little as 30 minutes. There are three airports located within 30 miles of the Property including
Miami International Airport which accommodates over 40 million passengers each year. There
is no shortage of recreation options nearby as the Miami Zoo is located down the road and
there are three golf courses within a short drive. For more adventurous residents, a brief drive
to Downtown Miami provides access to the endless dining, shopping and nightlife options in
addition so some of the most beautiful beaches in the country. For daily needs, there are five
supermarkets within two miles of the Property including a Publix supermarket and a Winn-Dixie.
PROXIMITY TO LOCAL EMPLOYERSResidents of the Development have access to one of the largest employment centers in
the southeast United States thanks to its proximity to downtown Miami. Miami-Dade County
in general has a diverse economy that is largely based on tourism, international trade and
banking. Employers located within a short commute of the Property include Baptist Health
South Florida, Homestead Air Force Base and the University of Miami which collectively em-
ploy over 27,000 people throughout the county. Tourism continues to represent the largest
industry in the area with several major cruise lines headquartered near the Port of Miami.
STRONG POPULATION GROWTH AND RENTER BASEMiami-Dade County experienced strong population growth between 2010 to 2015, as the
total population increased by over double the rate of the country. This increase has coincided
with a drop in the vacancy rate for Miami area multifamily
units, which has decreased from a high of 6.7% during the
financial crisis to a 15 year low of 2.9% in 2015. According
to Claritas, this strong growth is expected to continue
through 2020 with the population continuing to grow by
6.6%, which is 86.6% higher than the expected national
average. Claritas also expects the number of households
in Miami-Dade County to increase by more than 6.8%
over the next 5 years, further increasing the areas demand
for housing options. Miami-Dade County has a proportion-
ately high percentage of renters, with approximately
45.0% of all housing units rented. With the expected in-
crease in population, and the relatively high percentage
of renters in the local area, The Park at Kendall is uniquely
positioned to benefit from residents who are seeking luxury
housing options.
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Sounth New River Canal
North New River Canal
Snake Creek Canal
Little River Band
Miami CanalHialeah
Race Track
WestlandMall
Palm SpringsMile Shop Center
Bal HarbourShops
Opa-LockaAirport
BarryUniversity
Joe RobbieStadium
The Mallat 163rd
Pro PlayerPark
ATLANTICOCEAN
BiscayneBay
MiamiInternationalAirport
Villa VizcayaMuseum & Gardens
Central BusinessDistrict
FreedomTower
OrangeBowl
Stadium
Miami-Dade Co.Auditorium
BaysideMarketplace
Fontainbleau
HiltonMiami BeachConvention CenterJackie GleasonTheater of Performing Arts
ART DECODISTRICT
Lincoln Rd. Mall& Arts District
OMNIInt'l Mall
New AmericanAirlines Arena
BiltmoreGolf Club
CrandonPark
Universityof Miami
Univ. of Miami -South Campus
MiamiZoo
Florida Int’lUniversity
Miami DadeCollege
Kendall-TamiamiExecutive Airport
Mallof the
Americas
MathesonHammock
Park
DeeringEstate
BlackPointPark
EvergladesNationalPark
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Hollywood
Fort Lauderdale
Hallandale
N. Miami Beach
MiamiShores
Opa-Locka
Carol City
Miramar
PembrokePines
Davie
Plantation
Miami
Miami Beach
Hialeah
Doral
KeyBiscayne
Coral Gables
Coral Gables
SouthMiami
HeightsCutler Bay
TheHammocks
WestwoodLakes
IndianCreekVillage
Kendall
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Community Amenities• Modern and Spacious Fitness Center • Indoor Spinning Studio• Expansive Clubhouse Veranda• Resort-Style, Beach-Entry Pool• Pool Deck with Cabanas• Outdoor Fire-Pit and Grill• Outdoor Billiards Lounge• Gated-Access Surface Parking & Carports• Private Storage Spaces• Clubhouse with Cyber Café• Business Center• Outdoor Playground• Indoor Children’s Playroom• Dog Park
Apartment Amenities• Granite Countertops• Stainless Steel Appliances• Tiled Floors in Living Areas• 9-foot ceilings• European-Style Espresso Cabinetry• Chef’s Island Kitchens• Oversized Bathtubs• Patio or Balcony• Spacious Walk-in Closets• Oversized Windows• In-Unit, Full-Size Washer/ Dryer• Hurricane-impact Windows and Sliding
Glass Doors
1450 Broadway, 30th Floor, New York, New York 10018Tel: 212.381.7612 • Fax: 917.591.9696
420 Royal Palm Way, Suite 310, Palm Beach, FL 33480Tel: 561.655.1743 • Fax: 561.655.1745