Jimmy Tate, Sergio Rok sell luxury Boca apartments to GID for $92M

GID paid $327k per apartment at Park at Broken Sound's Allure by Windsor

TRD MIAMI /
Jun.June 15, 2018 06:00 PM

Jimmy Tate and Allure by Windsor (Credit: allurebywindsor.com)

Developers Jimmy Tate and Sergio Rok just sold a new luxury rental complex in Boca Raton for $92.1 million to GID.

Property records show IMP Allure LLC closed on the purchase of Allure by Windsor, a 282-unit apartment community at 6750 Congress Avenue, for about $327,000 per unit.

Tate and Rok completed the development last year. They bought the property in 2016 for an unknown price from Danburg Management Corp., which remained an equity partner in the project.

Allure by Windsor sits on about 14 acres of land along Congress Avenue, just south of Clint Moore Road, within the 700-acre Park at Broken Sound in Boca Raton. It was one of the first rental projects to be developed in the park after it was rezoned to allow for more residential development.

Rents at Allure range from $1,800 to $2,800. Amenities include a 5,500-square-foot clubhouse, as well as a 10,500-square-foot retail component.

Tate and Rok are also part of a group of developers behind the Bahia Mar project in Fort Lauderdale Beach, where they plan to bring apartment towers, a new hotel, restaurants, stores and marine space to the waterfront site.

In South Florida, GID also owns the Windsor at Miramar, a 348-unit apartment complex and co-owns the Mirador at Doral. Last year, the Boston-based investment firm paid $133.55 million for the newly completed Amaray Las Olas luxury rental tower in downtown Fort Lauderdale.


Related Articles

arrow_forward_ios
Prentis Wilson and 1880 Sabal Palm Circle (Realtor)

Proceed to checkout: Former Amazon exec pays $5M for Boca Raton mansion

Proceed to checkout: Former Amazon exec pays $5M for Boca Raton mansion
310 East Alexander Palm Road (Realtor.com)

Cumberland Farms scion buys waterfront Boca Raton home

Cumberland Farms scion buys waterfront Boca Raton home
Stephen Siegel of Fairstead, 21000 Ruth and Baron Coleman Boulevard in Boca Raton (Credit: Google Maps)

Jewish Federation sells Boca Raton senior living facility for $34M

Jewish Federation sells Boca Raton senior living facility for $34M
5001 Egret Point Circle, Jeff Levitetz (Credit: Google Maps)

That’s a lot of lettuce: Grocery distributor lists Boca Raton mansion for $23M

That’s a lot of lettuce: Grocery distributor lists Boca Raton mansion for $23M
Carmen N. D'Angelo, Jr., Kevin Kreutzfeld and 4111-4121 Ibis Point Circle

Wife of rock salt magnate buys waterfront Boca Raton lots for $7M

Wife of rock salt magnate buys waterfront Boca Raton lots for $7M
Michael Dell and Boca Raton Resort & Club

Michael Dell’s MSD Partners plans major changes to Boca Raton Resort & Club

Michael Dell’s MSD Partners plans major changes to Boca Raton Resort & Club
311 East Key Palm Road, Mark S. Cosby (Credit: Google Maps)

Former CEO of Michaels sells Boca Raton mansion for $10M

Former CEO of Michaels sells Boca Raton mansion for $10M
John Pulichino and Joy Tong, 3621 Princeton Place (Credit: Google Maps)

Luggage designer sells waterfront Boca Raton mansion for $6M

Luggage designer sells waterfront Boca Raton mansion for $6M
arrow_forward_ios

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

Loading...