An Aventura investment fund is looking to unload the bulk of condo units developed around the same time Bill Clinton became president.
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Cushman & Wakefield's Calum Weaver and Colliers International's Gerard Yetming (above) has been tapped by TIF Aventura to sell 170 condominium units at the Valencia at Doral, a 310-unit condo project in Doral that first delivered in 1992. TIF Aventura is connected to Aventura's Transcendant Investment Fund through the Florida Secretary of State's corporations search.
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The 15-building complex sits on more than 11 acres at 10000 NW 45th Terrace, and the bulk offering includes the project's clubhouse. The current owner—which is tallying an occupancy rate of more than 97% of renters in the portfolio—has already upgraded 114 units with interior improvements that have added $344/month rents, Calum says.
"The asset offers in-place cash flow with occupied units and the potential to sell individual units at a significant premium," he says.
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