MIAMI — Kushner Cos. has acquired The Hamilton, a 276-unit apartment community located in the Edgewater neighborhood of Miami. Apartment Investment and Management Co. (Aimco) sold the multifamily property for $190 million.
Located at 555 N.E. 34th St. along Biscayne Bay, the community is situated with proximity to downtown Miami and the city’s Brickell financial district.
Originally developed in 1984, The Hamilton features one-, two-, three-, four- and five-bedroom units averaging 1,373 square feet in size. Each apartment also features a terrace — the terraces average 326 square feet, with some larger than 2,300 square feet.
Aimco purchased The Hamilton in 2020 and executed a complete renovation of the property, which was completed in 2022. Still Hunter, Kaya Suarez, Leigh Gerke, Bennett Hopkins and Luke Duffack of Walker & Dunlop arranged the transaction on behalf of Aimco.
Additionally, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Michael Stepniewski, Mo Beler, Michael Ianno and Christopher de Raet of Walker & Dunlop arranged a $157 million acquisition financing package on behalf of Kushner Cos. Apollo Global Management and Macquarie Group provided the financing.
According to a press release issued by Walker & Dunlop, The Hamilton marks one of only two institutional-quality, direct bayfront residential rental towers in Miami.
Kushner Cos. is a commercial real estate development, investment and management firm based in New York City. The company’s portfolio encompasses residential, commercial, retail, hospitality and industrial properties, with 12.9 million square feet currently under development and more than 26,500 apartments under ownership across 13 states.
— Hayden Spiess