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700 Euclid Avenue in Miami Beach and (clockwise from top left) Sentinel executives Scott Arden, Martin Cawley and George Tietjen (Google Maps)
Sentinel Real Estate is betting big on the Miami Beach and Bay Harbor Islands multifamily market, buying a 452-unit portfolio for $96.6 million.
The New York-based commercial real estate investment manager bought 25 buildings in Miami Beach and five in Bay Harbor Islands from various affiliates of Boardwalk Properties, according to deeds and a spokesperson for Sentinel.
Sentinel also bought Boardwalk’s Miami Beach office at 1211 Alton Road for $2 million, according to a deed.
Sentinel will upgrade unit interiors and rebrand the portfolio to Helios Apartments Miami Beach, according to a press release.