Seascape Pointe, a 306-unit, garden-style community with 54 buildings in the southern part of Homestead, was recently sold by Mast Capital in partnership with Angelo Gordon. IMC Equity Group purchased the property at 1140 SE 24th Rd., which sits on 31.68 acres. It comprises two-story, direct-access townhomes. Residences range in size from three-bedroom units at 1,387 square feet to four-bedroom units at 1,501 square feet. The property’s amenities include a clubhouse, swimming pool with an expansive sun deck, outdoor fitness area, playground, dog park and 24-hour gated entrance.
Mast Capital and Angelo Gordon acquired Seascape Pointe in December 2020 and added capital improvements, developing 14 new townhomes and enhancing management practices.
“Since acquiring Seascape Pointe in late 2020, we invested in significant improvements to the community, including upgrading amenities, adding 14 new townhomes and driving operational improvements,” Camilo Miguel says, Jr., CEO and Founder of Mast Capital.
Demand for upgraded and newer rental communities in Homestead and southern Miami-Dade County has outpaced supply in the submarket, creating above-average rent growth in the metropolitan area over recent years. The residential community is also surrounded by retail, dining, and entertainment options, including Downtown Homestead and premier shopping centers such as Florida Keys Outlet Mall, Southland Mall, The Falls, and Pembroke Pines City Center.
Since December 2020, Mast Capital has overseen $3.5 billion in total project capitalization. These investments include the new-build development of 2,300 residential units, ranging from garden rental apartments to ultra-luxury condominiums, in Miami’s Brickell District, Miami Beach, Fort Lauderdale, Palm Beach County, Fort Myers and the Tampa metro area.