The Real Deal Miami

PB County apartments sell for $32M

Massachusetts investor picks up Runaway Bay complex

February 10, 2014 09:45AM

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6175 Reflections Boulevard

6175 Reflections Boulevard

A Palm Beach County apartment complex has changed hands for $32 million, The Real Deal has learned.

Lantana-Oxford Associates, a company managed by Denver-based AIMCO, sold a 404-unit community at 6175 Reflections Boulevard in Lake Worth, according to Palm Beach County records. The transaction closed on Jan. 24 and was recorded by the county on Friday.

The AIMCO company was operating the complex as the Runaway Bay Apartments.

West Springfield, Mass.-based Lantana Silver Springs is the buyer of the community, which was built in 1986. The company did not obtain financing for the acquisition.

A few days before the sale of the Lake Worth complex closed, the Florida Club apartment community in Boynton Beach sold for $40 million. — Eric Kalis

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