Property management and investment group Waterton has acquired the Soleste West Gables apartment complex in West Miami for $57.4 million. Located at 2101 Ludlam Road, the 206-unit property includes a mix of one-, two- and three-bedroom units with resort-style swimming pool and a resident lounge with cyber café. Waterton plans to complete minor upgrades throughout the community which was fully leased at the time of the sale. The sellers of the asset were a joint venture of Estate Investments Group, Fortune Capital Partners and Mattoni Group
“The transaction presented an opportunity to acquire a well-located, Class A, new-construction community,” said Justin Maturo, Waterton’s assistant vice president of acquisitions “The property’s location in West Miami offers residents convenient access to nearby employment centers and transportation, as well as numerous restaurants, retail shops and recreational amenities located throughout Miami-Dade.”
