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Transactions - OCTOBER 15, 2021

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Lerner Enterprises expands Florida multifamily portfolio

by Released

Lerner Enterprises has acquired Motion at Dadeland, a 25-story class A+ multifamily high-rise community comprising 294 market-rate apartments and 8,246 square feet of amenity-based retail, including a preschool slated to open fourth quarter 2021. The building is adjacent to Dadeland North Metrorail Station in Miami.

Motion at Dadeland, a transit-oriented development, is located within a half-mile of nearly 2 million square feet of office, with nearly 12 million square feet across the Dadeland submarket. Motion is also across the street from Dadeland Station, home to Target, Best Buy, Dick's Sporting Goods, Bed Bath and Beyond, Michaels, and PetSmart. The property is also walking distance from Dadeland Mall, home of Tesla, Apple Store, Cheesecake Factory, Chick-Fil-A, LEGO, Coach, Disney Store, Macy's Florida flagship store, JC Penney, Zara, Lacoste and Saks Fifth Avenue.

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