Giovanna Apartments

Befeler Group, through an affiliate, acquired a 28-unit midrise apartment complex in Miami-Dade County across the street from Home Depot, Costco and about five-minutes driving distance from Miami International Airport, one of the busiest airports in the world. The property sits within the urban core in one of the highest demand rental areas in Miami and serves mostly airport-related personnel and their families. When Befeler Group acquired the property from an estate, it was undermanaged and in need of repositioning. Befeler Group immediately repositioned, remodeled, and upgraded the property. We increased rents by approximately 35%, and the property has since been consistently 100% leased and performing well.