Cascades at the Hammocks with Grand Peaks CEO Luke Simpson and AEW CEO Jeff Furber (Google Maps)
AEW Capital Management sold the Cascades at the Hammocks multifamily complex in southwest Miami-Dade County for $63 million.
Records show AEW’s affiliate, Cascades at Hammocks LLC, sold the apartments at 10605 Hammocks Boulevard, to Grand Peaks Properties’ affiliate Cascades Hammocks Apartments LLC.
Denver-based Grand Peaks, led by Luke Simpson, took out a $28.2 million loan from JLL Real Estate Capital to finance the purchase.
The 264-unit apartment complex was built in 1988 and spans 9.6 acres north of Miami Executive Airport, according to property records. It has multiple three-story buildings that total 276,816 square feet. The sale equates to $238,636 per unit.
AEW Capital Management sells Cascades at the Hammocks apartments in West Kendall Miami-Dade to Grand Peaks Properties bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.