MIAMI & NEW YORK, September 23, 2026–(BUSINESS WIRE)–Alpaca Real Estate (“ARE”) and Phoenix Realty Group (“PRG”) announced today that a joint venture between the firms has acquired Bay Pointe, a 269-unit, seven-story multifamily community in Miami’s South Kendall submarket.
The 2024-vintage property is located adjacent to Palmetto Bay with direct access to U.S.-1 / South Dixie Highway and Florida’s Turnpike. Bay Pointe offers modern residences and a full amenity package, including a resort-style pool, 24-hour fitness center, business center, resident lounge, and gated garage parking. In-unit amenities include quartz countertops, stainless steel appliances, 36″ cabinets, washer/dryer in-unit, and hard surface flooring throughout.
The acquisition reflects the partners’ focus on well-located multifamily properties serving middle-income renters in high-growth markets. Bay Pointe recently completed lease-up and is 95% leased. The joint venture will institute Willow Bridge as the property manager to stabilize the asset and create a high-quality resident experience.
“Bay Pointe presents an attractive opportunity to acquire a newly delivered multifamily community in one of South Florida’s most dynamic rental markets,” said Daniel Carr, Co-Managing Partner of Alpaca Real Estate. “Our data-driven investment platform, which evaluates hundreds of similar development and existing assets, highlighted the acquisition basis and outsized yield as particularly attractive today. We look forward to implementing a focused stabilization plan that enhances operations, delivers a high-quality resident experience and expands access to naturally occurring affordable housing.”
“Bay Pointe is a strong fit for Phoenix Realty Group’s strategy of investing in well-located multifamily communities where disciplined operations can create durable value,” said Keith Rosenthal, Co-Founder, Chief Executive Officer and President of Phoenix Realty Group. “We are pleased to partner with Alpaca Real Estate on this acquisition and bring our local South Florida experience and operating platform to the property.”
About Alpaca Real Estate
Alpaca Real Estate (“ARE” or the “Firm”) is a private equity real estate firm focused on U.S. investing. ARE combines a tenured institutional investment team with a proprietary, AI-enabled data infrastructure platform. Through disciplined, hands-on asset management and efficiencies gained through technological implementation, the Firm executes comprehensive business plans for assets where dislocation, complexity, or market inefficiency create compelling opportunities for value creation.
