MIAMI — Adler Group and 13th Floor Investments, in partnership with Barings LLC, has sold Motion at Dadeland, a transit-oriented multifamily development in Miami. Maryland-based Lerner Enterprises purchased the 25-story property for $114 million.
Located at 8400 South Dixie Highway, Motion at Dadeland features 294 market-rate rental apartments and approximately 8,000 square feet of retail space adjacent to the Dadeland North Metrorail station and the Dadeland Station retail center. Built in 2019, Motion at Dadeland was 99 percent occupied at the time of sale.
Avery Klann of Newmark represented the seller in the transaction, while Rob Carey and Ted Taylor of JLL, along with Matt Williams and Kassi Saridakis of Newmark’s Debt & Structured Finance team, represented the buyer.