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Greystar affiliate sells Miami apartment complex for $40M

An affiliate of Greystar disposed of The Mile at Coral Gables apartment complex in Miami, the South Florida Business Journal reported.

GS Mile, previously known as Monogram Residential Mile, sold the 120-unit property at 3622 S.W. 22nd St. for $40 million.

The buyer, Acumen Real Estate affiliate Mile Apartments LLC, assumed a $21.5 million mortgage from Walker & Dunlop.

The 13-story building spans 234,992 square feet and includes 3,000 square feet of retail space, according to the publication.