Deerfield Beach apartment complex sells for $30M

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

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.

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