Blackstone Pays $209M for Two Multifamily Properties in Doral

The two garden-style apartment communities—Doral View at 901 NW 97th Ave. and Town Fontainebleau Lakes at 1062 NW 87th Ave. were sold by Miami-based Related Group and Boston-based Rockpoint Group.

Doral View and the adjoining Town Fontainebleau Lakes total 720 units.

MIAMI—New York City-based global investment firm Blackstone has acquired two apartment properties in the Doral submarket here totaling 720-units for $208.75 million.

The two garden-style apartment communities—Doral View at 901 NW 97th Ave. and Town Fontainebleau Lakes at 1062 NW 87th Ave. were sold by Miami-based Related Group and Boston-based Rockpoint Group. The transaction calculated out to Blackstone acquiring the properties for approximately $290,000 per unit.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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