Archstone Villages sells for $19.5M

The Archstone Villages, a West Palm Beach apartment complex with 384
units, was sold for $19.5 million in a deal arranged by CB Richard Ellis Capital
Markets. Charles Foschini, vice chairman of CBRE’s Debt & Equity
Finance and Institutional Group located in CBRE’s Miami office,
arranged the financing through Freddie Mac on behalf of Azalea Village
LLC, along with his team. The asset was listed and sold by
Robert Given, executive vice president in the Investment Properties and
Institutional Group in CBRE’s Miami office. TRD