Angelo, Gordon & Co. sells rental community west of Boca Raton for $64M

An affiliate of Priderock Capital Partners bought the 338-apartment complex

Feb.February 20, 2018 11:30 AM

22511 Southwest 66th Avenue and Priderock’s George W. Banks and David N. Khoury (Credit: and Priderock)

An apartment community west of Boca Raton just traded hands for $64 million.

Property records show an affiliate of the New York-based investment manager Angelo, Gordon & Co. sold the community, which features at least 338 apartments, according to documents filed in Palm Beach County.

Angelo, Gordon & Co. declined to comment on the sale. Records show the firm paid $43.9 million for the community at 22511 Southwest 66th Avenue in 2014.

The buyer is tied to West Palm Beach-based Priderock Capital Partners. Records show the multifamily asset management and development firm scored $47.2 million in financing from Keybank National Association.

The one-, two- three-bedroom apartment community features a pool, clubhouse, tennis courts and a fitness center.

In April, Priderock paid $56.8 million for an apartment community in Key West.

Related Articles

Rendering of the project

Time Equities plans apartments, retail on former office site in West Palm

From left: Howard Sands, Scott Tracy, and Kenton Wright

Walgreen sells store near Boca Raton for $9M

Shane Neman, and Mauricio Bello Richard Waserstein, with 525 Northwest 77th Street Marriott in Boca

Blackstone sells Marriott hotel in Boca Raton

Shorecrest Club Apartments

CBRE fund pays $132M for Shorecrest Club Apartments in Miami

Arnaud Karsenti, Michael Adler and the Link at Douglas

Douglas Station project scores $99M loan for second tower

Rendering of Soleste Twenty2 and Robert Suris

Estate Companies completes 338-unit West Miami project

A rendering of Society Las Olas (Credit: Facebook)

16K apartments to be delivered in South Florida this year: report

Brian Gordon and Gio Midtown

Magellan launches leasing of Midtown Miami apartment tower