Waterton Acquires 221-Unit Mid-Rise Apartment Community in High-Growth West Miami Market

Waterton Acquires 221-Unit Mid-Rise Apartment Community in High-Growth West Miami Market

MIAMI, FL - Waterton, a U.S. real estate investor and operator, announced it has acquired Soleste West Gables Phase II, a 221-unit Class A rental community located in West Miami, Fla. The property is located adjacent to an existing Waterton-owned property, District West Gables Phase I. Together, the combined properties will be known as District West Gables.

Located at 2001 Ludlam Road, the acquired property is an eight-story mid-rise completed in October 2017 by a joint venture led by Miami-based Estate Investments Group, LLC – the same partnership that developed District West Gables Phase I in 2015.

“West Miami remains poised to benefit from the continued growth occurring in Miami-Dade County due to its central location,” said Justin Maturo, vice president of acquisitions at Waterton. “Furthermore, the acquisition of Phase II significantly increases the overall amenity space offered to our residents, which will allow both properties to retain their competitive position in the marketplace.”

Apartments feature finishes consistent with today’s Class A new construction, including tile flooring; gourmet kitchens with granite countertops, stainless steel appliances and tile backsplashes; and in-unit laundry. Additionally, all units feature either private terraces or balconies.

The community’s extensive amenity package includes a resort-style swimming pool and sun deck with cabanas; resident lounge with cyber café; fitness center with club-style equipment; yoga studio; movie theater; children’s playroom; and controlled-access parking garage. The construction of Phase II also included an outdoor courtyard located between the two buildings, which provides shared access to each building’s garage and offers residents an outdoor dog park and children’s play area.

“We are excited about the acquisition of Phase II and look forward to further enhancing the experience for our residents,” said Maturo.

In addition to the amenities, residents will have access to a host of services, beginning with move-in help from Digital Waterton Concierge. Package receiving, online rent payment and 24-hour emergency maintenance also are available.

District West Gables is located nearly 7 miles west of downtown Miami and 3 miles west of downtown Coral Gables. The central location within Miami-Dade County offers residents convenient access to nearby transportation and employment centers, including the University of Miami and Miami Children’s Hospital, as well as numerous restaurants, shops and recreational amenities. The property is a mile east of State Road 826, which is a primary north-south thoroughfare that connects to some of South Florida’s key highways including State Road 836 (known locally as the Dolphin Expressway), Interstate 95 and Florida’s Turnpike.

Source: Waterton / #Apartments #Multifamily

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