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Pembroke Pines apartment complex sells for $78M

Developer sold three other complexes recently
February 06, 2015 02:15PM

Altis Sheridan Village, courtesy of Altman Companies

Altis Sheridan Village, courtesy of Altman Companies

Boca Raton-based developer Altman Companies has sold another of its apartment complexes — this time in Pembroke Pines.

Altis Sheridan Village, at 16700 Sheridan Street, was sold to the AVR Realty Company for $78 million, according to a published report.

The 300-unit complex was built in late 2014 and includes one-, two- and three bedroom apartments. Altman transferred management of the complex at Sheridan LLC from itself to AVR, instead of filing a deed. By doing so, the developer avoid a half-million dollars in taxes, the South Florida Business Journal reported.

Altman, which develops apartment complexes and condominiums, announced Friday that it sold two other complexes in South Florida and one in Tampa. [South Florida Business Journal] — Sean Stewart-Muniz