Strike out! Washington Nationals owner sells Kendall apartment project at $42M loss
The billionaire family that owns the Washington Nationals struck out in the Kendall multifamily submarket. An affiliate of Rockville, Maryland-based Lerner Residential sold Motion at Dadeland, a 25-story tower with 295 apartments at 8400 South Dixie Highway for $72.4 million, records and real estate database Vizzda show. The buyer, an affiliate of Los Angeles-based JRK Property Holdings, led by Jay Lippman, paid $41.6 million below the previous sale price four years ago. Berkadia’s Jaret Turkell and Omar Morales brokered the deal. JRK paid roughly $245,424 per apartment. As part of the deal, JRK assumed an existing $57.8 million commercial securities […]This article originally appeared on The Real Deal. Click here to read the full story.
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