AEW Sells Miami apartments to Grand Peaks for $63M
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 ac...
Source: therealdeal.com