Rental Condos Debut in N. Miami
Why this matters
Multifamily has been the most actively underwritten sector through the rate cycle, with cap rate compression resuming in Sun Belt and gateway markets as 2024-2025 deliveries roll off and refinance demand on 2021-vintage bridge loans clears. Transaction velocity is up modestly, concentrated in stabilized Class A and grocery-adjacent garden assets. Miami continues to absorb foreign capital and high-net-worth domestic migration. Brickell and Edgewater multifamily cap rates have led the recent compression, and hospitality continues to clear at premium basis on the back of constrained supply. Allocators continue to favor residential for its income durability and its insulation from secular demand questions that still hang over commercial sectors.
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On the RET wire
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Computed from Real Estate Trail’s own tracked coverage
Fortune International Group and Blue Road delivered Nexo Residences, a 16-story short-term rental condominium in North Miami Beach. Built by KAST Construction, the development will soon welcome its first owners and gu…
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