Pembroke Pines apartment complex sells for $78M

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.

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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