Coconut Creek apartments sell for $24.5M

Waterview at Coconut Creek
Waterview at Coconut Creek

A waterfront apartment community in Coconut Creek has traded for $24.5 million, The Real Deal has learned.

Waterview Apartments of San Diego sold the 192-unit complex at 3621 Hillsboro Boulevard on Tuesday, according to Broward County records. The community was built in 1987 on more than 20 acres.

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Fairfield Waterview FL of Arlington, Va. is the buyer. The company obtained a $17.3 million loan from Capital One for the acquisition.

The complex is currently called Waterview at Coconut Creek, but the sale could result in a rebranding of the community. Apartments are currently available at monthly rents ranging from $1,170 for select one-bedroom units to $1,425 for certain two-bedroom units, according to the community’s website. — Eric Kalis