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| Deme Mekras |
MIAMI, FL — Franklin
Street Real Estate Services announces the sale of 30-unit apartment building in
Hialeah, Fla. for $2.95 million or $136.00 per square foot.
Deme Mekras, Elliot Shainberg, and David Reinke, all
of Franklin Street Real Estate Services, represented the seller, a local family
partnership. The buyer was an investor from Haiti who paid all cash, said
Mekras, regional managing partner for Franklin Street’s Miami office.
“Hialeah is one of
the hottest areas in the Miami metro area for apartment rentals,” said Mekras.
“Occupancies are higher in this sub-market than any other in Southeast Florida.
Investors are recognizing that market security and are willing to pay top
dollar for the dependability.”
Mekras said most of
the multifamily investors in Hialeah are local or regional players, but he’s
now seeing more foreign dollars flowing into the area.
 |
| Elliott Shainberg |
“Traditionally, foreign investors have concentrated on Miami
and the beaches, but they are now seeing opportunities all over South Florida,”
said Mekras.
“They are buying
wherever they see strong fundamentals and the potential for long-term value.
Hialeah is one of those areas.” Mekras and his team closed this particular deal
within 90 days from listing to closing, further indicating a heated market in
South Florida.
Mekras said the buyer plans to improve the parking lot, add
new railings and a fresh coat of paint to enhance the property, located at 1255
W Okeechobee Road.
For a complete copy of the company’s news release, please
contact:
Ashley Fierman
Boardroom Communications 954-370-8999/954-330-1554
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