Avanti Residential Acquires $181 Million Soleste Grand Central Apartments in Miami

MIAMI and DENVER, July 11, 2022 (GLOBE NEWSWIRE) -- Denver-based Avanti Residential has acquired Soleste Grand Central, a newly built luxury 360-unit apartment community in downtown Miami. Avanti purchased the Class A multifamily community for $181 million from The Estate Companies, who developed the project in 2021 and achieved 95% occupancy in six months amid ongoing strong demand for high quality lifestyle apartments in South Florida. "We continue to see strong fundamentals in several South Florida multifamily markets, where employment growth and migratory trends remain impactful demand generators in an already supply constrained apartment sector," said Christian Garner , president and CEO of Avanti Residential . "Soleste Grand Central fits perfectly with our investment strategy of acquiring premier lifestyle-forward multifamily communities in prime locations." Soleste Grand Central is located at 218 NW 8th Street, with excellent walkable access to a wide array of retail and dining options and immediate ingress/egress access to I-95. ... Full story available on Benzinga.com