Medical clinic entrepreneur Jorge Acevedo acquired the Regency Club Apartments in Hialeah for $21.2 million, according to a March 11 report. The purchase marks Acevedo’s entry into South Florida’s multifamily real estate market.
The acquisition is significant as it highlights continued investor interest in workforce housing in Hialeah, an area known for its stable rental market and appeal to developers. Acevedo, who is the founder of Miami-based La Colonia Medical Centers, bought the 74-unit property at 1350 West 46th Street through an entity he manages. The deal was financed with a $10.6 million loan from City National Bank of Florida.
Records show that Acevedo paid about $286,500 per unit for the garden-style complex, which was built in 1972. The seller, Royal Income Properties managed by Nilo Meilan, had purchased the property for $4.1 million in 2002.
Acevedo has longstanding ties to Hialeah through his medical business, which focuses on senior care and operates a flagship clinic in West Hialeah that opened in 2012. His network now offers more than 20 specialties under one roof.
Hialeah remains one of Miami-Dade County’s most active multifamily submarkets. Developers such as MG Developer have secured major loans and sites for large-scale projects, including Metro Parc South and Pura Vida Hialeah, reflecting ongoing development activity even as rent growth slows from pandemic highs.
The transaction underscores the trend of investors seeking opportunities in established neighborhoods with strong demand for rental housing.
