Marlin Spring is pleased to announce its acquisition of Pine Groves and Princeton Groves, a portfolio of 420 apartment units across two garden-style communities located in Miami-Dade, Florida.
Pine Groves, built in 2020, is located on South Dixie Highway and consists of 204 units within three 3-story buildings and Princeton Groves, built in 2016, is located just east of US-1 and consists of 216 units within six 3-story buildings. Both Pine Groves and Princeton Groves properties include upscale amenities such as expansive clubhouses, pool decks, playgrounds and fitness centres.
Situated in the flourishing Miami-Dade district, both properties are minutes from the Florida’s Turnpike on-ramp and near the future Bus Express Rapid Transit (BRT) corridor which will provide seamless access to the Dadeland South Metrorail Station. The properties benefit from their proximity to major retail centres, business areas and education centres. The Miami-Dade residential market has experienced exponential growth in the last year and is well-positioned to continue to be an in-demand neighbourhood for residents.
“We are thrilled to expand our real estate portfolio with the acquisition of Pine Groves and Princeton Groves,” stated Avi Jakobowitch, President of Marlin Spring US Realty. “This 420-unit apartment community is well-located in a rapidly growing Miami-Dade area, with superb transit options and near a multitude of major retail and employment hubs. The recently built quality construction boasts high-end interior finishes and provides the community with luxury amenities. With minimal deferred maintenance, it presents a great opportunity to capture rental premiums by implementing additional unit enhancements. We are pleased to add this acquisition to our growing portfolio of apartment communities throughout the Unites States.”
Marlin Spring will implement a value-add program as part of our mission to provide more value and enhanced living experiences for residents.