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

Centro at Davie (Credit:
Centro at Davie (Credit:

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.

Sign Up for the undefined Newsletter

By signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.

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.