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South Florida

North Lauderdale apartment complex fetches $37M

Altis at Cypress Creek
Altis at Cypress Creek

The Altis at Cypress Creek community in North Lauderdale changed hands for nearly $37 million.

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GS North Lauderdale LLC of Charleston, S.C. acquired the 220-unit apartment complex at 1700 South State Road 7 in a deal recorded on Wednesday, according to Broward County records. The company assumed a $23.5 million loan from PNC Bank as part of the transaction.

The seller is a company tied to developer The Altman Cos., which paid $6.9 million for the 10-acre site in June 2008 and constructed the complex a year later. — Eric Kalis

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Multifamily Market