Expanding Footprints in South Florida’s High-Growth Rental Corridor
MIAMI & NEW YORK — In a major transaction highlighting ongoing institutional confidence in South Florida’s residential sector, private equity firm Alpaca Real Estate (“ARE”) and real estate investment manager Phoenix Realty Group (“PRG”) have jointly acquired Bay Pointe, a premier 269-unit, seven-story multifamily development located in Miami’s rapidly growing South Kendall submarket.
The newly constructed 2024-vintage property caters directly to South Florida’s middle-income demographic—a crucial segment in the region’s expanding housing market. Benefiting from strong regional demand, Bay Pointe has recently concluded its lease-up phase and reached an impressive “95%” occupancy rate at the time of sale.
Positioned strategically adjacent to Palmetto Bay, the community offers seamless regional connectivity with direct access to U.S.-1 / South Dixie Highway and Florida’s Turnpike, providing residents with streamlined commutes to major business and commercial hubs across Miami-Dade County.
Resort-Caliber Amenities & High-Spec Residential Finishes
Bay Pointe combines contemporary architectural layout with a comprehensive, lifestyle-driven amenity package tailored for modern residential living.
The community features:
- Shared Amenities: A resort-style swimming pool, 24-hour fitness center, business center, resident lounge, and secure gated garage parking.
- In-Unit Finishes: Residences are outfitted with quartz countertops, modern stainless steel appliances, 36” custom cabinetry, full-sized in-unit washers and dryers, and hard-surface flooring throughout.
To maintain operational excellence and drive long-term value, the joint venture has retained Willow Bridge as the third-party property management firm. Willow Bridge will oversee daily operations, manage asset stabilization, and elevate the overall resident experience.
Data-Driven Investment Strategy & Leadership Perspectives
The transaction underlines both firms’ targeted focus on acquire-and-stabilize opportunities within high-demand submarkets, leveraging proprietary technology and localized market experience.
“Bay Pointe presents an attractive opportunity to acquire a newly delivered multifamily community in one of South Florida’s most dynamic rental markets,” said Daniel Carr, Co-Managing Partner of Alpaca Real Estate. “Our data-driven investment platform, which evaluates hundreds of similar development and existing assets, highlighted the acquisition basis and outsized yield as particularly attractive today. We look forward to implementing a focused stabilization plan that enhances operations, delivers a high-quality resident experience, and expands access to naturally occurring affordable housing.”
“Bay Pointe is a strong fit for Phoenix Realty Group’s strategy of investing in well-located multifamily communities where disciplined operations can create durable value,” added Keith Rosenthal, Co-Founder, Chief Executive Officer, and President of Phoenix Realty Group. “We are pleased to partner with Alpaca Real Estate on this acquisition and bring our local South Florida experience and operating platform to the property.”
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