Blackstone pays $117M for South Florida multifamily property
An affiliate of New York investment giant Blackstone Group paid $117 million for the Portofino at Biscayne apartment complex in North Miami. Stellar Biscayne Owner, managed by Laurence Gluck of New York-based Stellar Management, sold the 871-unit complex at 1820 N.E. 142nd Street to BRE Portofino MF Property Owner, an affiliate of New York-based Blackstone…