Private Canadian Buyer Purchases Institutional Quality Multifamily PropertyšBOCA RATON, FL— Atlanta-headquartered Apartment Realty Advisors (ARA), the largest privately held, full-service investment advisory brokerage firm in the nation focusing exclusively on the multihousing industry, announces the sale of Arbor Oaks at Boca Raton, (top right photo) a 360-unit multifamily community located in exclusive Boca Raton, Palm Beach County, Florida.
ARA Boca Raton based principal, Avery Klann, (middle right photo) senior vice president, Hampton Beebe (bottom left photo) and principal, Richard Donnellan, (top left photo) represented an institutional investor in the sale of the class A value-add investment opportunity which was 91% occupied at the time of the sale.This property enjoys a strategic location along the east side of U.S. Highway 441, south of Glades Road.š West Boca Medical Center is immediately adjacent to the community of eighteen, two- and three-story garden apartment buildings, which offers residents maximum privacy combined with water or recreational views.
Additionally, Arbor Oaks maintains superior construction quality with cast-in-place concrete
floors, concrete reinforced masonry block walls and textured stucco.
“The combined innovative design, quality of construction and extensive amenities of Arbor Oaks provide exceptional value for the undisclosed, private Canadian-based buyer who purchased the deal for $40,000,000,” noted Klann.
“As a newcomer to this market, they plan to take advantage of the interior and exterior ‘value-add’ opportunities and benefit from increasing premium rental rates as a result.
“ARA prides itself on uncovering unique international buyers that are new to the Florida market." In today’s capital constrained environment, accessing a wide base of potential investors is critical in getting deals done. ARA’s national database has over 26,000 registered apartment investors from all over the globe, which is a unique advantage we offer our clients,” said Donnellan, the current president of ARA National.
Located at 9817 Arbor Oaks Lane in Boca Raton, Florida, the property offers extensive amenities including ceramic tile floors, screened patios/balconies, washers & dryers, gated entry, business center, clubhouse, spa, fitness center, resort-style heated swimming pool, lighted tennis and basketball courts and barbeque/picnic areas throughout the community.
To schedule an interview with an ARA executive regarding this transaction or for more information about Apartment Realty Advisors, please contact Marti Zenor at mzenor@arausa.com or 561.988.8800, or Amy Holland at aholland@arausa.com or 678.553.9366.
Contact: Marti Zenor mzenor@ARAusa.com
561.988.8800 x112 Direct 954.205.5207 Cell 561.988.8810 Fax
Located at 9817 Arbor Oaks Lane in Boca Raton, Florida, the property offers extensive amenities including ceramic tile floors, screened patios/balconies, washers & dryers, gated entry, business center, clubhouse, spa, fitness center, resort-style heated swimming pool, lighted tennis and basketball courts and barbeque/picnic areas throughout the community.
To schedule an interview with an ARA executive regarding this transaction or for more information about Apartment Realty Advisors, please contact Marti Zenor at mzenor@arausa.com or 561.988.8800, or Amy Holland at aholland@arausa.com or 678.553.9366.
Contact: Marti Zenor mzenor@ARAusa.com
561.988.8800 x112 Direct 954.205.5207 Cell 561.988.8810 Fax
No comments:
Post a Comment