Deerfield Beach apartment complex sells for $30M

Landmark Co.s bought the property for $240K per unit

Miami /
Nov.November 15, 2019 11:30 AM
The Club at Crystal Lake, AHS Residential’s Ernesto Lopes

The Club at Crystal Lake, AHS Residential’s Ernesto Lopes

Landmark Co.s snagged a new Deerfield Beach apartment complex for $30 million.

Landmark Companies bought the 125-unit property at 3800-3816 Crystal Lake Drive for $240,000 per unit. AHS Residential, which is managed by Ernesto Lopes, sold the complex. It was built this year.

Keasbey, New Jersey-based Landmark secured a $17.5 million loan from JPMorgan Chase to buy the complex.

AHS Residential purchased the property for $1.4 million in 2014, records show.

The complex, known as the Club at Crystal Lake, totals 144,205 square feet and sits on about 5 acres. The apartments range from one to three bedrooms with prices starting at $1,449 per month, according to its website.

Club at Crystal Lake sits in front of the site of the former Crystal Lake Golf Club. at the corner of Military and Sample roads. Lennar Corp. is planning to build 415 single-family homes and townhomes on the former golf club.

Lennar purchased the property in March for $12.8 million from Hoyer Homes.

Miami-based AHS Residential was founded in 2012 by Lopes and Rubens Menin Texeira de Souza to develop, build and manage multifamily properties. The company focuses on workforce housing and is currently developing Deering Groves, a 280-unit rental community in south Miami-Dade County.

In October, AHS Residential sold a seven-story apartment complex in Dania Beach for $38 million to a California-based trust.


Related Articles

arrow_forward_ios
Damac Properties founder Hussain Sajwani and the Surfside collapse site (Damac, Getty)
Dubai developer revealed as $120M bidder for Surfside collapse site
Dubai developer revealed as $120M bidder for Surfside collapse site
Surfside site’s stalking horse bidder signed contract, auction slated for February as claims could reach $1B
Surfside site’s stalking horse bidder signed contract, auction slated for February as claims could reach $1B
Surfside site’s stalking horse bidder signed contract, auction slated for February as claims could reach $1B
Alex Rodriguez and Constantine Scurtis at far right (Getty)
A-Rod gets 13 lawsuits dismissed that were filed by ex-brother-in-law over real estate empire
A-Rod gets 13 lawsuits dismissed that were filed by ex-brother-in-law over real estate empire
Estate Companies pays $15M for downtown Hollywood Opportunity Zone site
Estate Companies pays $15M for downtown Hollywood Opportunity Zone site
Estate Companies pays $15M for downtown Hollywood Opportunity Zone site
Harvey Hernandez and a rendering of his Brickell project
Harvey Hernandez plans three-tower project on riverfront Brickell site
Harvey Hernandez plans three-tower project on riverfront Brickell site
Infinity project (Kobi Karp)
GPI Real Estate wins $6M settlement over failed Sunny Isles Beach project
GPI Real Estate wins $6M settlement over failed Sunny Isles Beach project
Judge Michael Hanzman and the site at 8777 Collins Avenue (Miami-Dade Circuit Court, Getty)
Judge overseeing Surfside collapse litigation chastises town over proposed downzoning
Judge overseeing Surfside collapse litigation chastises town over proposed downzoning
Sweetwater affordable senior rental project scores $33M construction loan
Sweetwater affordable senior rental project scores $33M construction loan
Sweetwater affordable senior rental project scores $33M construction loan
arrow_forward_ios

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

Loading...