DRA jumps into Miami’s Allapattah with $74M multifamily acquisition

DRA Advisors is dipping into Miami’s Allapattah multifamily market, acquiring a 263-unit apartment complex for $73.5 million. An affiliate of New York-based DRA, led by David Luski, bought Modera Skylar at 1444 Northwest 14th Avenue, records and real estate database Vizzda show. The buyer also assumed a $60.5 million mortgage from JLL Real Estate Capital. DRA paid $279,467 per apartment.  Modera Skylar consists of two 20-story buildings and a five-story parking garage with a rooftop pool deck. The complex offers a mix of studio, one-, two- and three-bedroom apartments.  Built in two phases, Modera Skylar’s first 166 units were completed […]This article originally appeared on The Real Deal. Click here to read the full story.