The Real Deal Miami

Greystar sells four South Florida rental properties with 1,616 units

The South Carolina-based company sold apartment properties in Boca Raton, Boynton Beach and Davie for an undisclosed price
April 15, 2018 09:20AM

Centro at Davie (Credit: Apartments.com)

Greystar Real Estate Partners, LLC, said it sold a portfolio of rental apartment properties in South Florida for an undisclosed price.

Charleston, South Carolina-based Greystar sold apartment properties in Boca Raton, Boynton Beach and Davie with a combined total of 1,616 units.

Greystar acquired the four apartment properties in 2013 as part of a national 27-property portfolio and subsequently renovated them. The four properties have a total of 16.6 million square feet of space that can be rented.

Two of the four South Florida properties are in Boynton Beach: Savannah Lakes, a 466-unit apartment complex built in 1991, and the 264-unit Stoneybrook Apartments, built in 2001.

The other two South Florida properties that Greystar sold are Bella Vista at Boca Del Mar, a 392-unit complex in Boca Raton built in 1985, and Centro at Davie, a 494-unit property in Davie built in 1989.

Two executive managing directors of ARA Newmark, Hampton Beebe and Avery Klann, represented Greystar in the sale of the four-property portfolio.

Greystar did not disclose the identity of the buyer. – Mike Seemuth