7 West represents TruAmerica’s first investment in the Miami MSA and second investment in the Southeast Florida Market. The asset is located in the Fontainebleau/Doral submarket, a highly sought-after suburban location within the Miami MSA. Positioned closely to the Dolphin Expressway and the Florida Turnpike, the property provides residents with unparalleled access to retail and dining locations, and major employment centers. The Miami MSA has seen extraordinary growth over the last two years. With the absence of state income tax, warm weather and a business-friendly environment, Miami has attracted many investment funds and startup incubators, resulting in tremendous growth.
The 304-unit property was built in 1988 and features spacious 2- & 3-bedroom garden-style units with individual balconies and patios. TruAmerica plans to complete a renovation to all 304 with anticipated upgrades including vinyl flooring throughout, quartz countertops with undermount sink, tile backsplash, interior paint, upgraded cabinet faces and upgraded lighting/plumbing fixtures.
7 West benefits from a prime location within the Fontainebleau/Doral submarket as the immediate vicinity of the property offers a full array of options for retail and entertainment, including the Dolphin Mall with 36 million shoppers annually and 1.4 million square feet of retail, Downtown Doral featuring 120-acres of mixed-use development, and a robust array of nationally recognized dining experiences. Additionally, located six miles from the property is the Waterford Business District, a 250-acre corporate park featuring over 100 multinational companies including Sony, Pepsi, and Burger King.