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

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

Miami /
Feb.February 20, 2018 11:30 AM

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


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