The Real Deal Miami

Plantation apartment complex sells for $26.5M

January 06, 2012 09:45AM

The Mar Lago Village apartment complex in Plantation has been sold for $26.5 million to Henderson Global Investors, according to Institutional Property Advisors, which represented seller Mar Lago Village Associates in the deal. IPA is a recently-formed multi-family brokerage division of Marcus & Millichap. The price represents an average of $122,685 per unit and $114 per square foot. “Mar Lago Village is well positioned to provide immediate and stable cash flow with significant upside through a limited value-add program that will enhance the curb appeal of the community,” said Evan Kirstol, senior vice president for investments at IPA, who worked with fellow senior vice president Still Hunter on the deal. — Alexander Britell