The Real Deal Miami

Lauderdale Lakes apartments get $18.2M

Seller banks 33 percent premium from 2012 purchase price
March 21, 2014 10:30AM

Whispering Palms

Whispering Palms

The Whispering Palms apartment complex in Lauderdale Lakes traded for $18.2 million.

Seller WMP Whispering Palms made a 33 percent premium on the price it paid in 2012, South Florida Business Journal reported. The Moshe Popak-managed company sold the 315-unit community to Enclave YMP, which is managed by Tony DiPiazza. WMP Whispering acquired the complex out of foreclosure in October 2012.

Whispering Palms has five buildings totaling 308,205 square feet at 4550 Northwest 36th Street. The buyer owns the adjacent Sea Wind Apartments.

Capital Commercial Real Estate Group broker Randy North represented the buyer. [South Florida Business Journal]Eric Kalis