Investors are continuing to bet big on South Florida’s multifamily market, with three recent acquisitions across South Miami and Fort Lauderdale led by a record-setting development site purchase. AvalonBay Communities paid $22 million for a full city block development site, at 5920 Sunset Drive to 5946 South Dixie Highway, where it plans 251 apartments. The deal broke down to $90,000 per unit, the highest per-unit pricing ever paid for a South Miami development site, according to a press release.  AvalonBay acquired the 1.2-acre site from longtime owner Robins Plaza, LLC in an off-market transaction. Virgilio Fernandez of Cushman & Wakefield […] This article originally appeared on The Real Deal. Click here to read the full story.