AvalonBay buys city block in South Miami as investors get in position for multifamily bounceback

AvalonBay buys city block in South Miami as investors get in position for multifamily bounceback
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Investors are continuing to bet big on South Florida’s multifamily market, with three recent acquisitions across South Miami and Fort Lauderdale led by a record-setting development site purchase. AvalonBay Communities paid $22 million for a full city block development site, at 5920 Sunset Drive to 5