HFF Closes $19.25 Million Sale of Multi-housing Development Site in Downtown Doral

MIAMI, FL – Holliday Fenoglio Fowler, L.P. (HFF) announces it has closed the $19.25 million sale of a four-acre multi-housing development site in Downtown Doral, a 250-acre mixed-use community in Doral, Florida.

HFF represented the seller and master developer of Downtown Doral, Codina Partners, in the sale of the parcel to Greystar.  The HFF investment advisory team representing Codina Partners included executive managing director Manuel de Zárraga, managing director Jaret Turkell, senior director Maurice Habif and director Simon Banke.  HFF has closed several sales within Downtown Doral, including land sites set for an assisted living facility and an active adult residential development.

“Greystar is a world-class institution and we are pleased that they are developing a second project in Downtown Doral, as well as managing our new multi-family tower, 5250 Park,” said Ana-Marie Codina Barlick, CEO of Codina Partners.  “Thank you to HFF for their help with this transaction.”

Downtown Doral is located off of NW 87th Avenue and NW 53rd Street and comprises approximately 70 shops and restaurants; a business district with almost one million square feet of Class A office space; 5,000 luxurious residential units, including 5350 Park condo tower, 5250 Park distinctive apartments, and Canarias single-family and townhomes in The Residences at Downtown Doral; Downtown Doral Charter Elementary School, a top-rated, bilingual charter elementary school; Downtown Doral Charter Upper School, a 6th through 12th grade charter school that is currently under construction; Doral Government Center, a LEED-certified city hall; and public green spaces adorned with world-class art pieces.

Greystar’s planned multi-housing project, designed by MSA Architects, will feature 385 luxury apartments in a six and eight story building.  The amenities will include a rooftop sky lounge amenity deck, club lounge, expansive fitness center, two swimming pools, and multiple courtyards with a park and yoga deck.  The site is positioned on the south side of the Downtown Doral master plan along 41st Street and 87th Avenue.

“We are excited to be part of the Codina vision for this premier mixed-use development project,” said Lewis Stoneburner, managing director of Greystar’s Florida development business.  “We also feel privileged to be doing business with such an incredible group of people at both the Codina organization and HFF.”

About Downtown Doral: Downtown Doral is Miami’s premier town center, a vibrant community of culture and commerce, located at the heart of access to almost everywhere.  Neighborhoods, offices, homes, an award-winning school, restaurants and shops that offer a new quality of life—totally walkable, connected, artfully designed, green and gracious.  The 250-acre mixed-use development features approximately 70 shops and restaurants; a bustling business district with almost one million square feet of Class A office space; 5,000 luxurious residential units, including 5350 Park condo tower and Canarias in The Residences at Downtown Doral; Downtown Doral Charter Elementary School, a top-rated bilingual charter elementary school; Downtown Doral Charter Upper School; Doral Government Center, a LEED-certified city hall; and public green spaces adorned with world-class art pieces.  Learn more at downtowndoral.com or follow @DowntownDoral on Facebook and Twitter and @DowntownDoralLife on Instagram.

Codina Partners: Codina Partners is a distinguished real estate development, management and investment firm that combines transparency and authenticity to provide hospitable, polished service to every client, partner and stakeholder it serves.  Led by an experienced, visionary leadership team, Codina Partners has distinguished itself from other developers and managers by recognizing overlooked opportunities, leaving every community better than they found it, delivering elevated service and producing high-quality work resulting in successful outcomes.  Codina Partners’ development and management portfolio includes notable mixed-use and industrial projects such as Downtown Doral, 2020 Salzedo and Beacon Logistics Park.  To learn about Codina Partner’s integrated services, visit codina.com or call 305-529-1300.

About Greystar: Greystar is a leading, fully integrated real estate company offering expertise in investment management, development, and management of rental housing properties globally.  Headquartered in Charleston, South Carolina, Greystar manages and operates an estimated $115 billion of real estate in over 180 markets globally including offices throughout the United States, UK, Continental Europe, Latin America and the Asia-Pacific region.  Greystar is the largest operator of apartments in the United States, managing approximately 500,000 units/beds, and has a robust institutional investment management platform with $32 billion of assets under management, including $12 billion of assets under development.  Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world-class service in the rental residential real estate business. To learn more, visit greystar.com.

About HFF: HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry.  HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing.  HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF).  For more information, please visit hfflp.com or follow HFF on Twitter @HFF.