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South Florida

Coconut Creek site sells for $53.1M

Hillsboro Bay Club

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Commercial property investor Kennedy Associates has purchased the
366-unit Hillsboro Bay Club in Coconut Creek for $53.1 million,
according to a source. This is the Seattle-based company’s first foray into the
South Florida market. The property, which is 12 years old, is located
at 3600 West Hillsboro Boulevard. The seller was the Laramar Group,
which buys and operates assets. The deal was for all cash, according to
Robert Given of CB Richard Ellis, which represented Laramar. [SFBJ]