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

Miami /
Apr.April 15, 2018 09:20 AM

Centro at Davie (Credit: Apartments.com)

UPDATED, Aug. 16, 5:35 p.m.: 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 1.6 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

An earlier version of this story listed incorrect square footage for the portfolio. 


Related Articles

arrow_forward_ios
From left: MHCommercial Real Estate Fund II's Jordan Paul, Dung Lam and Neil Merin along with the Yamato Office Center in Boca Raton and the Bridge Point Powerline Road in Pompano Beach (NAI Global, LoopNet, Getty Images)
Lease roundup: FirstService leases in Boca, PlantLab in Pompano Beach
Lease roundup: FirstService leases in Boca, PlantLab in Pompano Beach
Related’s Jorge Pérez and Jon Paul Pérez with 1785 Northeast Fourth Street (Related Group, Google Maps)
Related pays $48M for affordable senior housing complex in Boynton Beach
Related pays $48M for affordable senior housing complex in Boynton Beach
Mill Creek’s William MacDonald with FCP’s Alex Marshall, Esko Korhonen and Lacy Rice in front of rendering of the Modera Academical Village project (Mill Creek Residential, FCP, Dorsky Yue International)
FCP, Mill Creek pay $25M for multifamily dev site next to NSU in Davie
FCP, Mill Creek pay $25M for multifamily dev site next to NSU in Davie
MSP Capital co-founders and managing partners Murray McCabe and Max Lamont and the Pelican Bays office/warehouse complex at 4990 Southwest 52nd Street in Davie (Google Maps, MSP Capital Partners)
MSP Capital pays $50M for Davie office/warehouse complex
MSP Capital pays $50M for Davie office/warehouse complex
From left: Affiliated Development's Nick Rojo and Jeff Burns with The Pierce project
Affiliated Development wins approval for Boynton rental project with workforce housing
Affiliated Development wins approval for Boynton rental project with workforce housing
Candice and Steven Stark with 1371 Royal Palm Way (Getty, Royal Palm Realty)
Luxury carpet mogul drops $17M for house on Royal Palm golf course in Boca Raton
Luxury carpet mogul drops $17M for house on Royal Palm golf course in Boca Raton
From left: Contrarian Capital's Jon Bauer and Pebb Enterprises' Ian Weiner with Meridian Office Center
Pebb JV buys Boca Raton office complex for $30M
Pebb JV buys Boca Raton office complex for $30M
From left: Sotheby’s Daniel de la Vega and Reagan Jefferies with Brevard County
One Sotheby’s picks up Brevard County brokerage
One Sotheby’s picks up Brevard County brokerage
arrow_forward_ios

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

Loading...