444 West Lake Street | Suite 1900 | Chicago, IL 60606

8800 Doral Boulevard Doral, Florida

Doral 2

Property Type: Multi-Family

Funds Provided: $38,000,000

Investment Date: 2014

Structure: Equity

Partner: Hines Interests

Deal Synopsis:

Diversified Real Estate Capital formed a joint venture with Hines to develop 550 luxury multi-family units at the Southwest corner of Doral Boulevard and 87th Avenue in Doral, FL.  The development began construction in February, 2015 with initial opening scheduled for June, 2016 and final completion expected June, 2017.  The property will consist of a six-story, 300 unit wrap construction building and two garden style buildings totaling 250 units.  The property will share a new traffic light with the Trump Doral Resort Spa, and is at the major intersection in Doral, with easy access to Miami International Airport and its surrounding business, as well as downtown Miami and all of South Florida.  Representing Diversified’s second multi-family joint venture in South Florida with Hines, this development is designed to capture the rapidly growing professional class in the area as well as families seeking the finest public school system in South Florida.