The Real Deal Miami

Multifamily investor sells Tamarac complex for $16M

Related owned the property before it last sold for $11M in 2012

October 30, 2015 10:30AM
By Katherine Kallergis

  • Print
Golf Villas at Sabal Palm

Golf Villas at Sabal Palm in Tamarac

After picking up a nearly 600-unit apartment complex in North Miami this week, multifamily investor Moshe Popack has sold a Tamarac rental community for $16.3 million, records show.

YMP Golf Villas, a company controlled by Fisher Island-based Popack, sold the 166-unit townhome complex, the Golf Villas at Sabal Palm. The townhomes, at 5900 Northwest 46th Terrace, sold for an average of $98,000. Broward County records show that Golf Villas Square was the buyer.

The Related Group owned the 11-acre complex before Popack purchased it for $10.8 million in 2012, according to Broward County property records. It was developed in 1986 and includes a community pool.

Popack has increased his involvement this year in the multifamily and commercial markets in South Florida. He was part of the Miami Beach acquisition of a famous Johnny Rockets building in the movie “Scarface,” which sold for $12.4 million in March. And earlier this week, he picked up the Center Court apartments in North Miami for $25 million.

Fort Lauderdale-based Golf Villas Square, the buyer, is led by Krishna Persaud, a real estate investor. Persaud, also a professional engineer, was an asset manager and has worked in design and construction management services, according to BlockShopper South Florida.

He financed the purchase with a nearly $15 million mortgage. Tamarac is in western Broward County, south of Coral Springs and north of Sunrise.