Multifamily investor sells Tamarac complex for $16M

Miami /
Oct.October 30, 2015 10:30 AM

After picking up a nearly 600-unit apartment complex in North Miami this week, multifamily investor Moshe Popack has sold a Tamarac rental community for $16.3 million, records show.

YMP Golf Villas, a company controlled by Fisher Island-based Popack, sold the 166-unit townhome complex, the Golf Villas at Sabal Palm. The townhomes, at 5900 Northwest 46th Terrace, sold for an average of $98,000. Broward County records show that Golf Villas Square was the buyer.

The Related Group owned the 11-acre complex before Popack purchased it for $10.8 million in 2012, according to Broward County property records. It was developed in 1986 and includes a community pool.

Popack has increased his involvement this year in the multifamily and commercial markets in South Florida. He was part of the Miami Beach acquisition of a famous Johnny Rockets building in the movie “Scarface,” which sold for $12.4 million in March. And earlier this week, he picked up the Center Court apartments in North Miami for $25 million.

Fort Lauderdale-based Golf Villas Square, the buyer, is led by Krishna Persaud, a real estate investor. Persaud, also a professional engineer, was an asset manager and has worked in design and construction management services, according to BlockShopper South Florida.

He financed the purchase with a nearly $15 million mortgage. Tamarac is in western Broward County, south of Coral Springs and north of Sunrise.


Related Articles

arrow_forward_ios
Eden Multifamily heads Jay Massirman and Jay Jacobson with Cypress Equity Investments CEO Michael Sorochinsky (rendering courtesy of MSA Architects)
Eden Multifamily, Cypress Equity score $24M construction loan for Tamarac apartments
Eden Multifamily, Cypress Equity score $24M construction loan for Tamarac apartments
13th Floor’s Arnaud Karsenti, renderings of the Woodlands project and Bruce and Shawn Chait. (13 Floor, Woodlands 2020, Florida Department of Law Enforcement via Twitter)
Bruce and Shawn Chait arrested on charges of extorting 13th Floor Investments
Bruce and Shawn Chait arrested on charges of extorting 13th Floor Investments
Genghiz Erden and 6510-6566 and 6570-6596 North University Drive (Google Maps)
Investors pay $7M for Tamarac shopping center
Investors pay $7M for Tamarac shopping center
Mike Nunziata & the site map
13th Floor scores approval for housing community on former golf course in Tamarac
13th Floor scores approval for housing community on former golf course in Tamarac
From left: Steve Bisciotti, Jim Davis with  Jim and John Arrigo, with 5901 Madison Avenue, Tamarac and 2250 North State Road 7, Margate (Getty, Arrigo Auto Group, Google Maps)
Investment firm tied to Baltimore Ravens owner buys South Florida car dealerships for $91M
Investment firm tied to Baltimore Ravens owner buys South Florida car dealerships for $91M
Vizcaya Villas at 10011 South Nob Hill Circle, Newmark Knight Frank’s Tal Frydman, Avery Klann, Hampton Beebe
Symphony Residential nabs apartment complex near Sawgrass Mills
Symphony Residential nabs apartment complex near Sawgrass Mills
The shopping center in Tamarac (Credit: Google Maps)
Tamarac retail center sells for $14M
Tamarac retail center sells for $14M
Spectra at Tamarac at 8650 Northwest 61st Street and Mark Zolty
Canadian investment firm buys Tamarac apartments for $47M
Canadian investment firm buys Tamarac apartments for $47M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...