Waterton sells 427-unit apartment complex in West Miami at a discount for $111M

Waterton Residential sold a 427-unit apartment complex in West Miami for $111 million, marking a 4.7 percent discount from its purchase price nearly a decade ago.  Chevy Chase, Maryland-based FCP, or Federal Capital Partners, bought District West Gables, consisting of a pair of seven-story buildings at 2001 and 2101 Ludlam Road/Southwest 67th Avenue, from Chicago-based Waterton, according to records and real estate database Vizzda. The deal breaks down to $259,953 per unit.  Waterton, led by CEO David Schwartz, had paid $116.4 million for the complex in two deals in 2016 and 2017, records show. The firm bought the 206-unit building […]This article originally appeared on The Real Deal. Click here to read the full story.