A joint venture between RPM Living and affiliates of Cantor Fitzgerald Asset Management has finalized the acquisition of Biscayne Shores, a premier Class A apartment community in Miami, for $151.4 million. The deal, brokered by Yardi Matrix, marks a significant transaction in the South Florida multifamily market.
Key Takeaways
- RPM Living and Cantor Fitzgerald Asset Management partnered to acquire Biscayne Shores, a 380-unit community in Miami.
- The property was sold by Integra Investments for $151.4 million, equating to $398,000 per unit.
- Biscayne Shores, developed by Integra Investments, was completed in 2024 and features a mix of apartments and townhomes.
- The acquisition occurs amidst a cooling trend in South Florida’s multifamily sales, though larger transactions continue to be reported.
Biscayne Shores: A New Bayfront Community
Biscayne Shores, which came online in 2024, was developed by Integra Investments on an 8.2-acre site. Construction commenced in 2021, and the project secured a $101.4 million construction loan in 2022. The community comprises a 15-story tower with 288 apartments and 92 townhomes, offering floor plans from studios to three-bedroom units.
With 15,000 square feet of amenity space, residents can enjoy a fitness center, swimming pool, children’s playroom, and a rooftop terrace. As of April 2026, the development reported an occupancy rate of 93 percent.
Integra Investments also undertook significant bayfront improvements, including the reconstruction of the seawall and the addition of floating docks for paddleboard and kayak enthusiasts.
Strategic Location and Market Context
Located at 11295 Biscayne Blvd. along U.S. 1, Biscayne Shores boasts a strategic position. It is approximately 12 miles from Miami International Airport and conveniently situated near major retail centers such as Publix, The Home Depot, and Whole Foods. Surfside Beach is also a short distance away, roughly three miles from the property.
This acquisition adds to RPM Living and Cantor Fitzgerald’s portfolio of multifamily transactions across various markets, including Dallas, Orlando, Houston, and Denver.
South Florida Multifamily Market Trends
While the acquisition of Biscayne Shores is a substantial deal, the broader South Florida multifamily sales market has seen a slowdown compared to previous years. Colliers reported that multifamily sales in the first quarter of 2026 totaled $946 million, falling below the market’s five-year average of $1.9 billion. Despite this cooling trend, the region continues to witness significant transactions, such as Property Reserve’s $240 million purchase of Uptown Boca Villas earlier this month.