Soleste Grand Central
Update
07/21/22
Safehold Closes $62.5M Ground Lease With Avanti Residential
Safehold Inc. (NYSE: SAFE), the creator and leader of the modern ground lease industry, has closed on a $62.5 million ground lease to facilitate the acquisition of Soleste Grand Central, a 360-unit multifamily asset in Miami, Florida. The property was completed in 2021 and acquired by Avanti Residential.
"We are excited to expand our relationship with Avanti and pleased that our accretive ground lease capital has played a role in their impressive growth acquiring high quality multifamily assets," said Steve Wylder, Executive Vice President.
The transaction marks the sixth between Safehold and Avanti over the last two years; all 99 year ground leases created on acquisition of newer vintage multifamily properties. The acquisitions total in excess of 1,600 units in both Florida and Colorado.
Photo: Avanti Residential
