Waterton sells 427-unit apartment complex in West Miami at a discount for $111M
Waterton Residential sold a 427-unit apartment complex in West Miami for $111 million, marking a 4.7 percent discount from its purchase price nearly a decade ago. Chevy Chase, Maryland-based FCP, or Federal Capital Partners, bought District West Gables, consisting of a pair of seven-story buildings at 2001 and 2101 Ludlam Road/Southwest 67th Avenue, from Chicago-based Waterton, according to records and real estate database Vizzda. The deal breaks down to $259,953 per unit. Waterton, led by CEO David Schwartz, had paid $116.4 million for the complex in two deals in 2016 and 2017, records show. The firm bought the 206-unit building […]This article originally appeared on The Real Deal. Click here to read the full story.
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