Waterton buying Lakeview Cove

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Chicago’s Waterton Residential is purchasing the 224-unit Lakeview Cove
in North Lauderdale. The property, which was first developed by American
Land, will see an interior renovation, along with changes to the
exterior common areas. “The purchase of Lakeview Cove was an exceptional
opportunity to invest in a terrific physical asset in Broward County
with value-added potential,” said Max Peek, vice president of
acquisitions with Waterton, which has purchased four assets already this
year with a $500 million multi-family investment fund. “We are
optimistic given the future multi-family growth trends in South Florida
and are actively looking for additional investment opportunities in West
Palm Beach, Broward and Miami-Dade Counties.” [SFBJ]