Airport Manor Apartments

Befeler Group, through an affiliate, acquired a garden-type 56-unit apartment complex in Miami-Dade County in close proximity to Miami International Airport, one of the busiest airports in the world and largest employer in Miami-Dade County. The property serves mostly airport personnel and their families and sits on an entire city block within the urban core in one of the highest demand rental areas in the country. When the property was acquired, it was distressed, undermanaged, and only about 30% of tenants were paying rent. The property was immediately repositioned, remodeled, and upgraded and has since been consistently 100% leased and performing well.