• Cash in refinance of a Class B, 156-unit garden-style apartment community located in North Miami Beach near Aventura, Florida.

• Well-located property adjacent to the affluent Aventura neighborhood, with quick access to the major Biscayne thoroughfare.

• Financing to complete the 40-year Building Recertification as well as interior renovations.

• Property experienced significant rent growth since acquisition and was expected to see further growth as the interior renovations were completed, bringing the units to a market-standard buildout.