A company tied to Coral Springs broker and investor Deepak Khosa paid $7 million for an apartment complex in northeast Miami-Dade.
Club California LLC sold the California Club Apartments, a 64-unit complex at 750 Northeast 195th Street, to Khosa’s Miami Condo Holding Company LLC. The property traded hands for about $110,000 per unit.
The complex was built in 1978 and includes two two-story buildings with studios, one- and two-bedroom apartments. Deme Mekras and Elliot Shainberg of MSP Group represented the buyer, while Jacob Serure of SRE Commercial Group represented the seller.
Records show the seller is tied to Jennifer Snyder, a lawyer, and Pablo Maige.
The complex was operating as a condominium until about a year ago when the seller terminated the association and converted the complex into a single-folio multifamily property, according to a release. The buyer plans to renovate some units and raise the rents, with future plans to develop the 2.7-acre property.
Aaron Kurlansky of FM Capital provided the $5.9 million in financing.
The buyer, Khosa, is a broker with Atlantic Realty Associates, according to his LinkedIn profile.
The property is west of I-95 and Aventura, where a number of new mixed-use projects are underway. In June, Rieber Developments closed on a $36 million construction loan for a mixed-use medical office condo and hotel project next to Aventura Hospital.
Virgin Trains is considering adding a new station in Aventura by the end of 2020.