Waterton Buys New Apartment Community in West Miami for $59M

WEST MIAMI, FLA. — Chicago-based Waterton has purchased Soleste West Gables II, a 221-unit apartment community located at 2001 Ludlam Road in West Miami. Estate Investments Group (EIG), in partnership with Fortune Capital Partners and Mattoni Group, sold the asset to Waterton for $59 million. Completed in September, the community features studio, one- and two-bedroom units. Community amenities include a pool, resident lounge, movie theater, fitness center and a community park with a children’s playground. Waterton acquired the adjacent sister community Soleste West Gables in August 2016. Both properties have been renamed District West Gables.