Avanti Residential acquires apartments in South Florida for $102m

Avanti Residential has purchased Sanctuary Doral, an ultra-luxury 226-unit multifamily community in Doral, Fla., for $102 million.

Avanti purchased Sanctuary Doral from Miami-based Shoma Group, who developed the project with condominium-quality finishes and resort-like amenities in 2020. The acquisition continues the growth of Avanti’s nationwide apartment portfolio and is the second of three South Florida investments the company plans to complete in 2021.

“We think this is a tremendous investment opportunity on so many levels, with design and quality attributes befitting the highest quality for-sale condominium complexes in the market, plus the project is in a prime location serving a growing and upwardly mobile apartment resident demographic,” said Christian Garner, president of Avanti Residential.

Sanctuary Doral is located at 9400 NW 41st Street in Doral and fronts Doral Boulevard, the major east/west thoroughfare in Doral. The project includes abund