Miami Multifamily Tower Sells for $114 Million
The purchase involved a joint venture led by Miami-based developers Adler Group and 13th Floor Investments
The Motion at Dadeland property, a transit-oriented Class A+ multifamily development in Miami, was sold to Maryland-based Lerner Enterprises for $114 million. The deal was led by Miami-based developers Adler Group and 13th Floor Investments.
The property, located at 8400 South Dixie Highway, is a 25-story building featuring 294 luxury market-rate rental apartments and approximately 8,000 square feet of retail space next to the Dadeland North Metrorail station and the Dadeland Station retail center. The building was completed in 2019 and is currently 99% leased.