Miami Community Changes Hands
- Jan 29, 2020
A fund sponsored by CBRE Global Investors has acquired Shorecrest Club Apartments, a 467-unit community at the entrance of Miami’s Upper East Side and MiMo District. CBRE’s Still Hunter, Kevin Geiger and Chris Smiles arranged the deal on behalf of the seller, Upper East Side Miami LLC.
Located at 7950 Northeast Bayshore Court, the property also includes 4,200 square feet of retail space.
Developed in 2015, Shorecrest Club Apartments is situated at the intersection of 79th Street and Biscayne Bay. The community is situated on a 2.9-acre bay-front site and offers amenities such as a fitness center, community clubhouse, swimming pool and complimentary covered parking, according to Yardi Matrix. Shorecrest Club also offers residents waterfront common areas as well as an accessible commute to both downtown and North Miami.
Shorecrest Club Apartments’ location is the gateway into Miami’s Upper East Side art scene area featuring seven art galleries, a creative district of showrooms, art studios and independent retailers.
Earlier this month, CBRE arranged the sale of Villa Real Apartments, a 43-unit property in San Bernardino, Calif., on behalf of a local investor.