AEW, Mast Capital sell 342-unit apartment building on Miami River for $108M

AEW Capital Management and Mast Capital sold the Remi on the River apartment building on the Miami River for $108.4 million.  Boston-based AEW and Coconut Grove-based Mast sold the eight-story, 342-unit property they completed last year at 999 Northwest Seventh Street in Miami, according to records and real estate database Vizzda. The buyer is Valeris Capital, according to the sellers’ news release.  Robert Given and Troy Ballard were part of the CBRE team that represented the sellers.  The deal breaks down to $316,813 per apartment.  The buyer borrowed $72.3 million for the purchase from The Northwestern Mutual Life Insurance Company, […]This article originally appeared on The Real Deal. Click here to read the full story.