Airport Villas

Airport Villa is a 90-unit apartment building strategically located next to Miami International Airport, one of the busiest airports in the country. This prime location presented a unique opportunity to acquire a centrally situated asset in one of Miami's most sought-after rental markets. Given C-REV's ownership of another building on the same street, the firm was able to act swiftly and secure the purchase.

The previous owners had attempted to operate the property as a short-term rental and hotel due to its proximity to the airport, but this strategy did not maximize the building's potential. C-REV quickly identified that the asset’s highest and best use was as a traditional rental building with long-term tenants, especially given the significant rise in market rents.

Upon acquisition, C-REV initiated a comprehensive repositioning strategy, transitioning the property from short-term rentals to a more typical apartment rental model. The building had suffered from mismanagement and needed repairs and renovations. C-REV addressed these issues, raising rents to market rates, achieving 100% occupancy, and implementing a robust accounting and management system—a hallmark of C-REV’s owner-operator approach to enhancing property value.

 After successfully executing the repositioning plan, Airport Villa was sold in 2023 for $20,125,000, having been purchased in 2020 for $13,187,500 — realizing a profit of nearly $6,937,500in just three years.