Greystar has purchased a newly-developed mixed use apartment building in Miami’s Little Havana submarket. Paying $89 million for the asset, InTown Apartments is made up of two 15-story towers with a total of 320 residential units and 19,000 sqf of ground-floor retail. The property also features a 536-space structured parking garage surrounded by eight bi-level townhouse units. Situated on 2.53 acres at 1900 Southwest 8th Street, the property’s amenities include a clubroom, state-of-the-art fitness center, business center and a 60-foot outdoor swimming pool. Holliday Fenoglio Fowler brokered the sale of the property on behalf of the seller, The Astor Companies, in an off-market transaction. HFF also assisted the new owner by securing a fixed-rate acquisition loan with Florida Community Bank, which also provided the original construction financing for the development of the property.
