The Real Deal Miami

Keen Acumen in Tamarac buy

February 02, 2010 01:58PM

Acumen Real Estate has snatched the 300-unit Coral Vista Apartments in Tamarac for $31 million, continuing the investment group’s expansion and acquisition strategy. Acumen, doing business as Coral Vista Investors, bought the complex at 8090 NW 96th Terrace from Englewood, Colo.-based Archstone-Smith at about $103,000 per unit. Coral Vista is more than 90 percent occupied, according to Acumen managing director Carlos Berner. In December, Acumen took over the 288-unit Banyan Lake complex in Boynton Beach after assuming the owner’s $18.8 million debt. Berner said the company wants to build up a portfolio of about 1,000 units in the region. [GlobeSt]