As Florida sees new residential demand and growing foreign investor interest, owner taps Avison Young Capital Markets Group for Miami Homes Portfolio sale

Miami – Avison Young’s Capital Markets Group has been exclusively tapped to sell a portfolio of 51 luxury single-family homes, townhomes, and condominiums in four communities located in Doral and Brickell, two of Miami’s most sought-after submarkets. An investor may acquire the entire portfolio or any of three groupings categorized by the three residential property types. The opportunity consists of:

• Twenty-six (26) two and three-story single-family homes ranging from 4,000 to 6,000 square feet with rooftop terraces in Oasis Park Square, a luxury gated community at 8404 NW 33rd Street in Doral, Florida. The homes were built between 2015 and 2017.

• Thirteen (13) three-story townhomes ranging from 2,700 to 3,900 square feet with rooftop terraces in Contempo, a private gated enclave located along NW 91st Avenue between NW 33rd and 34th Streets in Doral, Florida. The homes were built between 2016 and 2017.

• Twelve (12) condominiums in Miami’s high-end Brickell neighborhood. Specifically, ten condos ranging from 750 to 2,100 square feet in NINE Mary Brickell Village built in 2015 at 999 SW 1st Avenue, and two condos at 1,300 square feet each in Reach Brickell City Centre built in 2016 at 68 SE 6th Street.

“There is strong residential demand in Doral and Brickell which has dramatically increased confidence among investors focused on the sector and those seeking portfolio diversification, and the Miami Homes Portfolio offers a sizable market advantage” said Rosendo Caveiro, CPA, a Senior Vice President with Avison Young. “We anticipate significant foreign buyer interest, particularly flight capital from Central and South America due to the pandemic spreading in those regions.”

Caveiro will lead the portfolio sale with Avison Young’s Michael T. Fay, Principal and Managing Director of the firm’s Miami office, and California-based Vice Presidents Laef W. Barnes and Todd Campbell. The buyer can keep the residences as rentals or sell each property individually.

“In addition to local Miami residents’ attraction to Doral and Brickell which are considered prominent live-work-play hubs, home buyers and renters from heavily populated metropolitan cities or high-tax states such as New York continue to migrate to South Florida’s luxury neighborhoods in large numbers,” continued Caveiro. “Tax reform already prompted an influx of migrants to Florida, and the pandemic further accelerated the trend as more people seek lower density, quality of life, and more space to stay safer at home.”

Proximate to a host of major companies and the Miami International Airport, Oasis and Contempo offer unmatched lifestyle amenities in Doral. Both communities are within walking distance of the 82-acre Doral Central Park and the new City Place Doral, a 300,000 square foot entertainment complex with shops, restaurants, a theater, a gourmet food market, and a recreation center. Dolphin Mall, Miami’s largest retail value shopping mall, is also just minutes away.

NINE is a luxury 34-story residential tower situated atop the 200,000-square foot Shops at Mary Brickell Village shopping and dining destination. Just two blocks away, Reach is a 43-story Class A residential tower within Brickell City Centre, a landmark 4.9 million square foot mixed-use development with upscale shops, restaurants, and entertainment.