Resia Sells Miami Property
It will continue to manage the 390-unit community.
Resia has sold Resia Old Cutler, a 390-unit community in Goulds, Fla., just south of Miami. Kayne Anderson Real Estate bought the property, marking its first acquisition from Resia. The seller will continue to manage the property.
Completed last year, the pet-friendly property came online with help from a $60.3 million construction loan originated by PNC Bank in mid-2022, according to Yardi Matrix.
The community consists of eight three-story buildings. Unit layouts vary from one- to three-bedroom configurations. Shared amenities include a swimming pool, fitness center, a children’s play area, as well as grade-level parking with 635 spots.
The 17.2-acre community is at 22555 SW. 107th Ave., just off Florida’s Turnpike. Downtown Miami and Miami International Airport are less than 25 miles north of the property. There are several retail stores within 3 miles, including Home Depot, Target and a Walmart Supercenter.
Resia Old Cutler is part of the branded Resia flag. Old Cutler is one of the many such properties across the U.S. The list of similar communities includes some in Denton, Texas; Houston; West Palm Beach, Fla.; Atlanta and Dallas.
In May of this year, Resia completed its branded community in Dallas. The 336-unit Resia Dallas West broke ground in December 2021 and matches Old Cutler’s amenities and features.
