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Vista Lago at the Hammocks Apts Sold fr $17.7M

RAIT Financial Trust sold 136 residential units, 55 percent of the 248 total condos at Vista Lago at the Hammocks located at 15689 SW 106th Ln in Miami, FL to Fortune Capital Partners, Inc. for $17.68 million or approximately $130,000 per unit.

The 120, 139-sf multifamily complex consists of on and two bedroom units in a total of 16 buildings. It was constructed in 1988 in the Hammocks submarket. This apartment complex is located within minutes from Miami-Dade College, West Baptist Hospital, and the Gilbert L. Porter elementary school.

Peter Mekras of CREC represented the seller. The buyer used in-house representation.

Please see CoStar COMPS #3473526 for more information on this transaction.