The Real Deal Miami

Coconut Creek apartments sell for $24.5M

New owner could rebrand waterfront community

January 15, 2014 11:15AM

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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.

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

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