Harbor Group International Acquires Iconic 816-Unit ParkLine Miami Luxury Highrise Apartment Community in Downtown Miami

Harbor Group International Acquires Iconic 816-Unit ParkLine Miami Luxury Highrise Apartment Community in Downtown Miami

MIAMI, FL - Affiliates of Harbor Group International, a privately owned international real estate investment and management firm, announced their acquisition of ParkLine Miami. ParkLine Miami is an iconic 816-unit, luxury apartment community in Downtown Miami developed by Florida's oldest and largest real estate and infrastructure development company, Florida East Coast Industries.

The development is perched directly above MiamiCentral, a thriving transportation and lifestyle hub spanning six downtown city blocks. It is a unique live-work-play destination with unrivaled transportation options including connectivity to four major transit lines: Brightline, Metrorail, Metromover and Tri-Rail. With over 10 million riders projected to travel through each year, MiamiCentral is transforming Miami's urban landscape.

"The ParkLine Miami investment represents a unique opportunity to acquire a world-class asset in a desirable, high-growth location with accessibility to major employment drivers and direct elevator access to all major regional and local transportation modes," said Richard Litton, President of HGI. "We are confident that the business environment in South Florida, and Miami specifically, will continue to thrive and the high demand for luxury residential, transit-oriented developments will continue to soar as Miami marks itself as one of the most prominent international cities."

Completed in 2020, the ParkLine Miami development consists of two 44- and 47-story high-rise luxury residential towers. Connecting the two towers is a two-acre sky park amenity deck set 150 feet above street level. The building's enhanced offerings include both infinity and lap swimming pools, a quarter-mile running track, outdoor and indoor fitness centers, pet parks and a grooming spa, a business center with co-working spaces and landscaped areas for outdoor grilling and gatherings.

"Florida East Coast Industries has embraced placemaking as a core strategy," said Sarah Watterson, the head of development for FECI. "Since the inception of Brightline, downtown Miami has seen unprecedented daytime, residential and leisure growth. This area has become a hub for people on the move who want to live and travel smarter. ParkLine Miami is the most well-positioned multifamily asset to meet and exceed the needs of this growing resident population."

Located in the center of Downtown Miami, the towers are proximate to a variety of prominent retail and office spaces and provide unprecedented immediate access to all South Florida transit lines and international air travel in one location. Residents will be connected to a total of 75 different rail stations across South and Central Florida, providing excellent access to employment centers, including Miami Worldcenter, Miami Health District, Brickell City Centre, Fort Lauderdale, Aventura, Boca Raton, West Palm Beach and Orlando.

In the midst of historic economic growth in South Florida, HGI now owns 1,105 units across five properties in Miami-Dade County. 

Cammeby's International Group partnered with HGI on the transaction. Cammeby's, founded in 1967, manages a large portfolio of real estate assets, mainly located in Manhattan, Brooklyn, Staten Island, Queens and New Jersey. Cammeby's has partnered with HGI on several transactions, including HGI's recent acquisition of a 5,302-unit portfolio of properties in New Jersey.

Source: Harbor Group International

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