RPM Living JV Buys Miami Property for $151M
The community was delivered two years ago.
A joint venture between RPM Living and affiliates of Cantor Fitzgerald Asset Management has acquired Biscayne Shores, a 380-unit Class A community in Miami. Integra Investments, the previous owner, sold the property for $151.4 million, or $398,000 per unit, according to Yardi Matrix.
Biscayne Shores came online in 2024 and was developed by Integra, with Deforma Studio serving as the architect. Construction on the community started in 2021. The project received a $101.4 million construction loan in 2022, Yardi Matrix shows. Previous plans called for a 16-story tower with 275 apartments and 105 rental homes.
The community was built on 8.2 acres and includes a 15-story tower with 288 apartments and 92 townhomes. Floorplans range from studios to three-bedroom units. There is 15,000 square feet of amenity space, with a fitness center, a swimming pool, a children’s playroom and rooftop terrace. Yardi Matrix data shows the development as 93 percent occupied as of April 2026.
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As part of the bayfront development, Integra reconstructed the seawall and built floating docks for paddleboards and kayaks. Located at 11295 Biscayne Blvd. along U.S. 1, the community is about 12 miles from Miami International Airport and near major retailers including Publix, The Home Depot and Whole Foods. Surfside Beach is roughly three miles away.
RPM and Cantor Fitzgerald have completed other multifamily transactions in markets including Dallas, Orlando, Houston and Denver, according to the companies.
South Florida multifamily sales cool down
While the acquisition of Biscayne Shores represents a large sale in Miami, investment activity across South Florida is cooling off compared to previous years. According to Colliers, multifamily sales in the first quarter of 2026 totaled $946 million, below the market’s five-year average of $1.9 billion.
Even though investment activity is slowing, the region continues to see larger transactions. Earlier this month, Property Reserve completed one of the biggest transactions of the year in South Florida, with its $240 million purchase of Uptown Boca Villas.
In February, PGIM Real Estate sold The Quaye at Palm Beach Gardens in Palm Beach Gardens, Fla. to The Dermot Co. The new owner acquired the asset for $131.8 million with a $110 million loan from Affinius Capital.
