MIAMI, FL – Dome Equities announced its acquisition of Alta Mira, a Class-A apartment community in North Miami, the firm’s eighth Florida property. Built in 2014, Alta Mira has 240 units, and is conveniently located between Downtown Miami, Fort Lauderdale and Doral, which provides access to over 58 million square feet of office and industrial space. The property sits across from North Miami’s Whole Foods, is near the Aventura Mall, Target, Miami Shores Country Club, as well as within a five-mile radius of four universities. The community consists of one, two and three bedroom units with an average square footage of 932.      

Dome’s value-add strategy for Alta Mira includes installing vinyl plank wood flooring throughout each unit, granite countertops, upgraded sinks in kitchens and bathrooms, a subway tile backsplash in kitchens, gated access, exterior repaint, enhanced landscaping, and poolside cooking facilities. 

“North Miami’s encouraging demographic trends, business environment, and expansive medical facilities will continue to catalyze further demand for high quality rental apartments in the area,” said Eric D. Jones, Dome Equities’ Chief Investment Officer. “We are thrilled to bring Dome’s expertise of providing value-add improvements for communities nationwide to Alta Mira.”

Dome’s real estate portfolio totals nearly $1.27 billion, of which 94% are apartment properties located in 20 metropolitan areas in the United States.

Jones further stated, “Greater Miami’s population is growing twice that of the national rate, and coupled with near term job growth, will augment Dome’s positive return profile.”

Alta Mira is jointly owned with a Florida headquartered multifamily operator and will be professionally managed by the operator. Alta Mira represents the eighth joint venture between Dome and the multifamily operator. The Alta Mira apartments are the newest asset in the North Miami/Bayshore submarket.   

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GREENWICH, CT – The Richman Group, one of the nation’s largest residential real estate investment, development and asset management firms, has introduced a new division to develop, construct and manage luxury rental residences in key U.S. markets under the Richman Signature Properties brand. The new properties will add an upmarket offering to The Richman Group’s robust portfolio of geographically diverse rental communities around the country.

The new brand is dedicated to reimagining rental living with an emphasis on individuality, social connectivity, preferred signature amenities and a resident-focused culture. Rich services, attractive designs, and value-added benefits from a carefully curated list of partners that complement and enhance residents’ lifestyles at all Richman Signature Properties.

According to The Richman Group Chairman Richard Richman, the company tapped into a strong foundation of knowledge in residential real estate and genuine understanding of what residents are looking for in establishing the Richman Signature Properties division. “We identified a major opportunity to respond to the current real estate market’s compelling demand for luxury rental properties by making more than just a temporary living space for renters. We wanted to make a home,” said Richman.

Richman Signature Properties will have nearly 15 luxury rental communities in its collection within the next two years located in desirable major residential markets including: South Florida; Tampa/St. Petersburg; Dallas; Denver; San Diego and Los Angeles-metro area. The first properties to join the upscale collection of Richman Signature Properties are located in Florida and include The Sedona, Tampa; Epic at Gateway Centre, St. Petersburg; and Palm Ranch, Davie.

Each community offers residents a variety of comfortable floor plans and upscale design options to accommodate renters’ needs along with resort-style amenities, such as swimming pools with cabanas, full-service fitness centers, walking paths, stylish clubhouses, business centers with meeting spaces, dog parks with pet spas, and much more. Additionally, Richman Signature Properties is partnering with like-minded lifestyle brands to empower its residents to Live Simpler, Live Healthier or Live Prettier for the ultimate signature living experience.

“At Richman, we build and invest in quality properties for the long haul, and our Richman Signature Properties are designed for a growing segment of customers that recognize both the value and longevity now provided by luxury rental residences,” said Kristin M. Miller, president of The Richman Group Development Corporation. “We’ve designed our properties with preferred signature amenities and exclusive services to appeal to Millennials and Gen-Xers who seek flexibility, choice and convenience to complement their lifestyle and make them feel at home.”

Richman Signature Properties slated to open this year include Grady Square and Aurora in Tampa (Westshore and Downtown respectively), Portico and Azura in South Florida, and Parc at White Rock in Dallas. Additional upcoming communities include Infinity LoHi in Denver, Library Tower and F11 in San Diego, Sage at Cerritos in the Los Angeles area and Biscayne 27 in Miami.

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