U.S.-based real estate investment trust Axonic Properties has purchased Viera, a 300-unit apartment complex in West Palm Beach, Miami, for $48.5 million.
The property, which was bought at about $162,000 per unit., has a clubhouse, fitness centre, swimming pool, tennis courts, barbecue area, lounge area, dog park, and trails for jogging, biking, and hiking.
The seller is a joint venture between U.S.-based hedge fund Angelo Gordon and real estate investment trust McDowell Properties.
In 2016, the joint venture bought the 14-acre property for $36.4 million.