The Real Deal Miami

Ytech finishes $5.1M rehab of Palm Beach pads

A rendering of the revamped Belle Glade Gardens Apartments

A rendering of the revamped Belle Glade Gardens Apartments

Multifamily developer Ytech International has finished a $5.1 million renovation of Palm Beach County’s Belle Glade Gardens Apartments, the South Florida Business Journal reported.

Ytech paid $7.6 million earlier this year for the property, which has 384 apartments with up to four bedrooms. The rehabilitation added amenities such as tennis courts, a community lake and a lakefront clubhouse.

“There is tremendous demand in the Belle Glade community for affordable rental housing that includes a complete choice of amenities,” Ytech CEO Yamal Yidios Char said in a press release.

The company owns a South Florida real estate portfolio worth over $250 million consisting of about 2000 multifamily apartments as well as more than 200,000 square feet of retail space and 500,000 square feet of office space. —[SF Business Journal]  – Hiten Samtani