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
Steven R. Dingle and the property he sold at 298 West Key Palm Road. (SRD Building Corp, Royal Palm)
Former Cantor Fitzgerald CEO sells Boca Raton mansion to homebuilder for $9M
Former Cantor Fitzgerald CEO sells Boca Raton mansion to homebuilder for $9M
Investcorp co- CEOs Hazem Ben-Gacem and Rishi Kapoor, Ventures CEO Tom Scott and 135 Northwest 20th Street in Boca Raton (Investcorp; Ventures; Google Maps)
CA Ventures buys Boca Raton apartment complex for $80M
CA Ventures buys Boca Raton apartment complex for $80M
From left: Jim Cohen, Nancy Corey, Nathan Zeder, Alicia Cervera Lamadrid, Phil Gutman and Mike Pappas (iStock)
South Florida’s pandemic-fueled residential market poised for bull run in 2021
South Florida’s pandemic-fueled residential market poised for bull run in 2021
Kathleen DuRoss Ford and 300 North Lake Way (Getty, Google Maps)
Kate Ford’s Palm Beach estate sells for $55M
Kate Ford’s Palm Beach estate sells for $55M
Bill Pulte and 2020 Royal Palm Way, Boca Raton (Bill Pulte, Royal Palm)
Bill Pulte buys waterfront teardown in Boca Raton for $6M
Bill Pulte buys waterfront teardown in Boca Raton for $6M
North American Development Group CEO John Preston and the Via Mizner Golf & Country Club at 6200 Boca Del Mar Dr (NADG; Google Maps)
Multifamily developer buys former Boca Raton golf course
Multifamily developer buys former Boca Raton golf course
President Donald Trump and James Batmasian (Getty, White House)
Boca Raton real estate honcho James Batmasian gets presidential pardon
Boca Raton real estate honcho James Batmasian gets presidential pardon
Carl E. Klepper Jr and 1739 Royal Palm Way, Boca Raton (Royal Palm Properties)
Spec mansion in Boca Raton sells for $8M
Spec mansion in Boca Raton sells for $8M
arrow_forward_ios

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

Loading...