Ytech International acquired a portfolio of 188 apartments in Miami Beach for $27.15 million. The units stretch along the 7700 block of Tatum Waterway Drive in North Beach comprising more than a dozen buildings most of which were built in the late 1940s. The seller, Grand Beach, amassed the properties between 2013 and 2014 for a total of $12.6 million. The sale was financed with a $21.72 million loan from Banesco USA.
Ytech owns and operates both multifamily and office buildings in South Florida and Texas with a portfolio of around 3,000 apartments in the two states.
