The Real Deal Miami

Banyan Village bought for $7.6M

September 24, 2008 11:25AM

Centennial Management Corp. has acquired Banyan Village East, a 180-unit garden-style condo conversion in Pomano Beach. The Miami Lakes-based investor bought the complex from an undisclosed seller who had owned it since the 1970s. Marcus & Millichap represented the seller and secured the buyer for the transaction. Despite having less than 20 percent occupancy, the community garnered more than 12 all-cash offers in the two weeks it spent on the market.