BETHESDA, Md.--(BUSINESS WIRE)--Dec 19, 2024--
Walker & Dunlop, Inc. announced today that it arranged the $190 million sale and $157 million financing of The Hamilton, a 276-unit trophy bayfront high rise in Miami's popular Edgewater neighborhood.
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The Walker & Dunlop South Florida Investment Sales team, led by Still Hunter, Kaya Suarez, Leigh Gerke, Bennett Hopkins, and Luke Duffack, arranged the sale on behalf of Apartment Investment and Management Company (Aimco). Concurrently, Walker & Dunlop's New York Capital Markets team, led by Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Michael Stepniewski,Mo Beler,Michael Ianno, and Christopher de Raet, arranged the $157,500,000 financing package, on behalf of the buyer, Kushner Companies, which Apollo Global Management and Macquarie Group provided. Today, the property is recognized as one of just two institutional-quality, direct bayfront rental towers in Miami.
Originally developed in 1984, Aimco purchased The Hamilton in 2020 and executed a complete renovation of the community, which was completed in 2022. The waterfront property features 276 spacious apartments, ranging from one to five bedrooms and averaging 1,373 square feet - 60% larger than newer-vintage properties in neighboring submarkets, distinguishing the community from other luxury rentals in Miami's urban core.
Additionally, The Hamilton offers the largest private outdoor terraces in South Florida, with each apartment boasting a terrace that averages 326 square feet and some larger than 2,300 square feet—an unparalleled amenity in high-rise rentals. Further, the building boasts a density of just 72 units per acre, the lowest of any luxury high-rise rental in Miami-Dade County, setting The Hamilton apart from all other multifamily properties and allowing for an unmatched array of outdoor and bayfront amenities.
"The community's bayfront location, unique features, appealing amenities, and stunning architecture combine to make The Hamilton one of South Florida's most iconic assets. Aimco’s redevelopment execution of the aging property was flawless, followed by the expeditious lease-up and high-quality resident base. We're thrilled to have partnered with Aimco to market this exceptional asset, and we are excited to see the Kushner team build upon the work already completed," said Still Hunter, managing director of Investment Sales at Walker & Dunlop. "We are also thankful to our Capital Markets team, whose collaboration was crucial in bringing this deal together. Our combined efforts highlight Walker & Dunlop's ability to deliver a seamless, one-stop-shop experience, securing a strong outcome for our clients and showcasing the depth of our expertise."
The Hamilton's Edgewater location puts the community at the center of one of South Florida's most vibrant and rapidly growing submarkets. Its prime position along Biscayne Bay, just north of Downtown Miami and Brickell, provides residents with world-class bay and ocean views, exceptional access to major thoroughfares, proximity to Miami-Dade County's largest employment hubs, and a wide range of retail, entertainment, and lifestyle amenities.
Walker & Dunlop is a leader in multifamily property sales, having completed over $51 billion in property sales volume since 2021. The firm is also one of the top providers of capital to the U.S. multifamily market. In 2023, Walker & Dunlop originated over $24 billion in debt financing volume, including lending over $20 billion for multifamily properties. To learn more about our capabilities and financing options, visit our website.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD) is one of the largest commercial real estate finance and advisory services firms in the United States. Our ideas and capital create communities where people live, work, shop, and play. The diversity of our people, breadth of our brand and technological capabilities make us one of the most insightful and client-focused firms in the commercial real estate industry.
The Hamilton (Photo: Business Wire)
KYIV, Ukraine (AP) — A Russian ballistic missile attack on Ukraine’s capital Kyiv early Friday killed at least one person and injured 12 others, officials said. Moscow claimed it was in response to a Ukrainian strike on Russian soil using American-made weapons.
At least three loud blasts were heard in Kyiv shortly before sunrise. Ukraine’s air force said it intercepted five Iskander short-range ballistic missiles fired at the city. The attack knocked out heating to 630 residential buildings, 16 medical facilities, and 30 schools and kindergartens, the city administration said, and falling missile debris caused damage and sparked fires in three districts.
“We ask citizens to immediately respond to reports of ballistic attack threats, because there is very little time to find shelter,” the air force said.
During the almost three years since the war began Russia has regularly bombarded civilian areas of Ukraine, often in an attempt to cripple the power grid and unnerve Ukrainians. Meanwhile Ukraine, struggling to hold back Russia's bigger army on the front line, has attempted to strike Russian infrastructure supporting the country’s war effort.
The falling debris in Kyiv smashed into the city center, causing damage to around two dozen high-rise office buildings as well as the Catholic Church of St. Nicholas, which is a city landmark, and the Kyiv National Linguistic University.
What may have been the blast wave from an intercepted low-flying missile also blew out windows or caused other damage at six embassies, the Ukrainian Foreign Ministry said.
The Russian Ministry of Defense said the strike was in response to a Ukrainian missile attack on Russia's Rostov border region two days earlier. That attack used six American-made Army Tactical Missile System, known as ATACMS, missiles and four Storm Shadow air-launched missiles provided by the United Kingdom, it said.
That day, Ukraine claimed to have targeted a Rostov oil refinery as part of its campaign to strike Russian infrastructure supporting the country's war effort.
The use of Western-supplied weapons to strike Russia has angered the Kremlin. Ukraine fired several American-supplied longer-range missiles into Russia for the first time on Nov. 19 after Washington eased restrictions on their use.
That development prompted Russia to use a new hypersonic missile, called Oreshnik, for the first time. President Vladimir Putin suggested the missile could be used to target government buildings in Kyiv, though there have been no reports of an Oreshnik being used for a second time.
Answering the Ukrainian attack on Rostov on Wednesday, the Defense Ministry said it carried out a group strike with “high-precision, long-range weapons” on the command center of Ukraine’s military intelligence agency and another location where it said Ukraine’s Neptune missile systems are designed and produced.
The attack also targeted Ukrainian ground-based cruise missile systems and U.S.-made Patriot air defense systems, the Defense Ministry said.
“The objectives of the strike have been achieved. All objects are hit,” the defense ministry said in a Telegram post.
Its claims could not immediately be verified.
This story has been corrected to show that Russia claimed Friday's attack was in response to a Ukrainian strike on Dec. 18, not earlier Friday.
Follow AP’s coverage of the war in Ukraine at https://apnews.com/hub/russia-ukraine
A Ukrainian serviceman collects evidence following recent Russian attacks in Kyiv, Ukraine, Friday, Dec. 20, 2024. (AP Photo/Daniil Bashakov)
A Ukrainian serviceman collects evidence following recent Russian attacks in Kyiv, Ukraine, Friday, Dec. 20, 2024. (AP Photo/Daniil Bashakov)
People stand next to buildings destroyed by the recent Russian attacks in Kyiv, Ukraine, Friday, Dec. 20, 2024. (AP Photo/Efrem Lukatsky)
A woman paces past buildings destroyed by recent Russian attacks in Kyiv, Ukraine, Friday, Dec. 20, 2024. (AP Photo/Efrem Lukatsky)
People take shelter in a metro station during and air raid alarm in Kyiv, Ukraine, Friday, Dec. 20, 2024. (AP Photo/Efrem Lukatsky)
People take shelter in a metro station during an air raid alarm in Kyiv, Ukraine, Friday, Dec. 20, 2024. (AP Photo/Efrem Lukatsky)
People take shelter in a metro station during an air raid alarm in Kyiv, Ukraine, Friday, Dec. 20, 2024. (AP Photo/Efrem Lukatsky)
Mayor of Kyiv Vitali Klitschko inspects damage around a residential building hit by a Russian rocket attack, in Kyiv, Ukraine, Friday, Dec. 20, 2024. (AP Photo/Efrem Lukatsky)
Ivanna, warms her dog in front of a destroyed burning car after a recent Russian attack in Kyiv, Ukraine, Friday, Dec. 20, 2024. (AP Photo/Alex Babenko)
People take shelter in a metro station during an air raid alarm in Kyiv, Ukraine, Friday, Dec. 20, 2024. (AP Photo/Efrem Lukatsky)
Police officers collect evidence following recent Russian attacks in Kyiv, Ukraine, Friday, Dec. 20, 2024. (AP Photo/Efrem Lukatsky)
Police officers collect evidence following recent Russian attacks in Kyiv, Ukraine, Friday, Dec. 20, 2024. (AP Photo/Efrem Lukatsky)
Cars are seen damaged after recent Russian attacks in Kyiv, Ukraine, Friday, Dec. 20, 2024. (AP Photo/Efrem Lukatsky)
In this photo provided by Kyiv city's military administration, firefighters work on the site after a Russian missile attack in Kyiv, Ukraine, Friday, Dec. 20, 2024. (Kyiv city's military administration via AP)
In this photo provided by the Ukrainian Emergency Service, firefighters work on the site of a damaged building after a Russian missile attack in Kyiv, Ukraine, Friday, Dec. 20, 2024. (Ukrainian Emergency Service via AP)
In this photo provided by the Ukrainian Emergency Service, firefighters work on the site of a damaged building after a Russian missile attack in Kyiv, Ukraine, Friday, Dec. 20, 2024. (Ukrainian Emergency Service via AP)
In this photo provided by Kyiv city's military administration, firefighters work on the site after a Russian missile attack in Kyiv, Ukraine, Friday, Dec. 20, 2024. (Kyiv city's military administration via AP)
In this photo provided by Kyiv city's military administration, firefighters work on the site after a Russian missile attack in Kyiv, Ukraine, Friday, Dec. 20, 2024. (Kyiv city's military administration via AP)
