In 2011, Southport Financial Services acquired the Lincoln Fields affordable apartments in Miami-Dade County’s Gladeview neighborhood for $10.7 million. Recently, the group sold this project for a significant profit of $21.99 million.
Joined Development Partners purchased the 303-unit complex located at 2050 N.W. 64th St., with financing provided by Merchants Bank of Indiana in the amounts of $19.62 million and $6.09 million.
Spanning over an area of 378,971 square feet, these apartments were originally built in the 1940s but underwent renovations after being acquired by Southport.
With approximately sixty percent designated as “low income” units, this Miami Section-8 housing project has doubled its value since its purchase by Southport Financial Services.
