Done Deals: HFF closes $19.25 million sale of multi-housing development site in Downtown Doral, FL

Saturday, April 6, 2019

HFF closes $19.25 million sale of multi-housing development site in Downtown Doral, FL

Ana Maria Codina Barlick

MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announces it has closed the $19.25 million sale of a four-acre multi-housing development site in Downtown Doral, a 250-acre mixed-use community in Doral, Florida.

HFF represented the seller and master developer of Downtown Doral, Codina Partners, in the sale of the parcel to Greystar.

The HFF investment advisory team representing Codina Partners included executive managing director Manuel de Zárraga, managing director Jaret Turkell, senior director Maurice Habif and director Simon Banke.

Manny de Zarraga

HFF has closed several sales within Downtown Doral, including land sites set for an assisted living facility and an active adult residential development.

“Greystar is a world-class institution and we are pleased that they are developing a second project in Downtown Doral, as well as managing our new multi-family tower, 5250 Park,” said Ana-Marie Codina Barlick, CEO of Codina Partners. “Thank you to HFF for their help with this transaction.”

Downtown Doral is located off of NW 87^th Avenue and NW 53^rd Street and comprises approximately 70 shops and restaurants; a business district with almost one million square feet of Class A office space;

5,000 luxurious residential units, including 5350 Park condo tower, 5250 Park distinctive apartments, and Canarias single-family and townhomes in The Residences at Downtown Doral;

Jaret Turkell

Downtown Doral Charter Elementary School, a top-rated, bilingual charter elementary school; Downtown Doral Charter Upper School, a 6^th through 12th grade charter school that is currently under construction; Doral Government Center, a LEED-certified city hall; and public green spaces adorned with world-class art pieces.

Greystar’s planned multi-housing project, designed by MSA Architects, will feature 385 luxury apartments in a six and eight story building.

The amenities will include a rooftop sky lounge amenity deck, club lounge, expansive fitness center, two swimming pools, and multiple courtyards with a park and yoga deck. The site is positioned on the south side of the Downtown Doral master plan along 41^st Street and 87^th Avenue.

Maurice Habif

“We are excited to be part of the Codina vision for this premier mixed-use development project,” said Lewis Stoneburner, managing director of Greystar’s Florida development business. “We also feel privileged to be doing business with such an incredible group of people at both the Codina organization and HFF.”

About Downtown Doral

Downtown Doral is Miami’s premier town center, a vibrant community of culture and commerce, located at the heart of access to almost everywhere.

Neighborhoods, offices, homes, an award-winning school, restaurants and shops that offer a new quality of life—totally walkable, connected, artfully designed, green and gracious.

The 250-acre mixed-use development features approximately 70 shops and restaurants; a bustling business district with almost one million square feet of Class A office space; 5,000 luxurious residential units, including 5350 Park condo tower and Canarias in The Residences at Downtown Doral;

Simon Banke

Downtown Doral Charter Elementary School, a top-rated bilingual charter elementary school; Downtown Doral Charter Upper School;

Doral Government Center, a LEED-certified city hall; and public green spaces adorned with world-class art pieces.

Learn more at www.downtowndoral.com or follow @DowntownDoral on Facebook and Twitter and @DowntownDoralLife on Instagram.

To learn about Codina Partner’s integrated services, please visit

www.codina.com or call 305-529-1300.

To learn more, please visit

www.greystar.com.

CONTACTS:

JARET TURKELL

FL Lic. #BK3114894

HFF Managing Director

(305) 448-1333

jturkell@hfflp.com

OLIVIA HENNESSEY