Soleste Club Prado, a new luxury midrise building located at the northwest edge of Coral Gables, FL, was acquired by Denver-based Grand Peaks for $61 million. The eight-story, 196-unit multifamily tower was developed on a 1.8-acre site at 950 Red Rd. in West Miami.
The first residents took occupancy in June 2016, and the building was 95% leased at the time of sale. Units at Soleste Club Prado feature top-of-market interior finishes, including porcelain flooring throughout the living areas, modern white cabinetry, Kenmore stainless steel appliances, and quartz countertops.
Cushman & Wakefield’s Robert Given, Zachary Sackley, Troy Ballard and Neal Victor negotiated the disposition on behalf of a joint venture of the Florida-based Estate Investment Group, Mattoni Group and Fortune Capital Partners.
“Soleste Club Prado is the first midrise, Class A multifamily property to transact in South Florida in nearly a year,” said Given.