The Real Deal Miami

Bankers Healthcare sells Pompano Beach apartment building

36-unit building sold for about $139k a unit
By Amanda Rabines | December 01, 2017 05:00PM

300 Southeast 11 Avenue and Robert Castro (Credit: Go Section 8, Bankers Healthcare Group)

A 36-unit apartment building that includes Section 8 housing in Pompano Beach just sold for $5 million, property records show.

PKGD Holdings Castro LLC, a Utica, New York-based company, sold the building at 300 Southeast 11th Avenue for about $139,000 a unit. The company is tied to Robert and Sophie Castro. Robert Castro is the co-founder and president of Davie-based Bankers Healthcare Group, a financial provider to healthcare professionals. Sophie Castro is a co-owner, according to LinkedIn.

Records show the Castros bought the apartment building in 2015 for $3.3 million. Last month the Castros bought a 371-unit apartment complex in Tamarac for $54 million, through 10 different entities.

The buyer is a Wilton Manors-based company called Onto Pompano IV LLC. The company is led by investors Roman Cherstvov and Scott Campbell, records show.

The three-story apartment building, built in 1970, spans 37,340 square feet. The rental community offers 66 bedrooms and 56 baths, according to Realtor.com. Some apartments are listed on the Section 8 Housing website gosection8.com with rents at $1,350 a month.

Bankers Healthcare Group is a financial services company that serves medical professionals. The company provides loans to doctors, pharmacists and other medical professionals throughout the nation, according to its website.

Investors have been flocking to Pompano recently. The city is planning to redevelop its aging downtown area to make it more appealing to companies, as well as residents and tourists.