The Real Deal Miami

Deer Chase apartments trade for $23.5M

Chicago company sells complex to Miami-based private real estate investor

May 01, 2014 12:00PM
By Eric Kalis

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Deer Chase apartment complex

Deer Chase apartment complex

The Deer Chase apartment complex in Deerfield Beach changed hands for $23.5 million, The Real Deal has learned.

Fund VIII DC Deerfield Beach, a company tied to Chicago-based Waterton Associates, sold the 4400 Northwest Sixth Street complex on Tuesday, according to Broward County records. It paid $14.6 million for the property in June 2005. The 186-unit complex was constructed in 1986.

PBH Deer Chase is the buyer. The Miami-based company obtained an $18.1 million loan from Berkadia Commercial Mortgage.

State corporate records identify Pensam Deer Chase as manager of the buying company. It shares a mailing address with Pensam Capital, a Miami-based private real estate lender and investment firm.

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