The Real Deal

December 22, 2015

By Katherine Kallergis

A joint venture between Greystone Property Development and Alta Developers has sold a luxury apartment tower in Miami for $48 million or $400,000 per unit, county records show.

Monogram Residential Mile LLC, an affiliate of Monogram Residential Trust, bought the 13-story tower, at 3622 Southwest Coral Way near Coral Gables. The Plano, Texas-based real estate investment trust also bought a newly completed apartment complex in downtown Boca Raton for $82 million in September.