Canadian developer pays $49.2 million for Coral Springs apartment complex

Canadian developer LSR Group has paid $49.2 million for the Sherwood Forest apartment complex in Coral Springs. The deal was facilitated by attorney Lawrence Steinberg, a partner in the Boca Raton law firm Steinberg Garellek. LSR, which has acquired more than $100 million in Florida assets since 2009, purchased the property through Sherwood Forest at Coral Springs LP, a Florida limited partnership. The 400-unit project is located at 1599 NW 91st Avenue. The deal closed Tuesday. “This is another example of the current trend of foreign capital entering the United States, and South Florida in particular,” said Steinberg. — Alexander Britell