search

The Real Deal Logo

Trending

Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aGVA sells Georgetown apartments for $25M in “forced sale” GVA sells Georgetown apartments for $25M in “forced sale” Macerich faces “imminent” default on $300M Santa Monica Place loanMacerich faces “imminent” default on $300M Santa Monica Place loanParkmerced's $1.8B debt heads to special servicingParkmerced's $1.8B debt heads to special servicing
Residential
South Florida

Investcorp buys Coral Springs apartment complex

Gables San Remo
Gables San Remo

Investcorp International Realty paid $34 million for the Gables San Remo apartment complex in Coral Springs, The Real Deal has learned.

New York-based Investcorp acquired the 180-unit complex at 3400 Coral Springs Drive on Wednesday, according to Broward County records. The company received a $22.8 million loan from MetLife for the purchase.

Sign Up for the undefined Newsletter

Gables Residential sold the complex to Investcorp. The company bought the 11.9-acre property in 1994 and constructed Gables San Remo the following year.

Monthly rents at the complex range from $1,560 to $1,645 for two-bedroom apartments and from $1,750 to $1,925 for three-bedroom units, according to Gables Residential’s website. — Eric Kalis

Tags
Coral SpringsInvestcorp