Gables Residential scores $85M loan for Boca Raton apartment complex

The property is next to Town Center at Boca Raton

Miami /
Apr.April 16, 2020 05:30 PM
Gables Town Colony apartment complex, Sue Ansel of Gables Residential

Gables Town Colony apartment complex, Sue Ansel of Gables Residential

Gables Residential scored $85 million in refinancing for its Gables Town Colony apartment complex in Boca Raton.

A company tied to Atlanta-based Gables Residential secured the loan for the 172-unit apartment complex at 6079 Town Colony Drive from New York Life Insurance Company, records show.

The property was purchased for $1.82 million in 1984. The apartments were built in 1985, records show. They total 137,645 square feet and sit on 9.5 acres.

The units range from studios to two-bedrooms, with monthly rents between $1,375 and $2,220, according to Zillow. The apartments are next to Town Center at Boca Raton.

Gables Residential is led by Sue Ansel. In 2018, the company completed Gables Columbus Center at 60 Minorca Avenue in downtown Coral Gables.

Downtown Boca Raton seeing an uptick in new development. Nearby, Penn-Florida Companies is building The Residences at Mandarin Oriental, a 12-story, 92-unit luxury condo development. The project is part of Via Mizner, a 2-million-square-foot mixed-use project in the center of Boca Raton.


Related Articles

arrow_forward_ios
El-Ad’s Yitzhak Tshuva and Zoam Ziv with Savannah Place at 22356 Calibre Court (Google Maps, Linkedin)
El-Ad National sells apartments west of Boca Raton for $31M
El-Ad National sells apartments west of Boca Raton for $31M
Stateland Brown owner-brokers Ayal Frist and Dan Statlander with one of the properties, City National Bank Plaza at 7000 West Palmetto Park (Google Maps)
TJAC Development sells mixed-use portfolio near Boca Raton for $155M
TJAC Development sells mixed-use portfolio near Boca Raton for $155M
Gary Bettman and 4020 Ibis Point Circle, Boca Raton (Getty, Google Maps)
NHL commissioner Gary Bettman buys Boca Raton mansion
NHL commissioner Gary Bettman buys Boca Raton mansion
AeroEquity Partners' Michael Greene and David Rowe with 6700 Northwest Broken Sound Parkway, Boca Raton (AeroEquity; CBRE)
Private equity firm pays $6M for Boca Raton office building
Private equity firm pays $6M for Boca Raton office building
Jeffrey A. Levitetz and 5001 Egret Point Circle, Boca Raton (Purity Wholesale, Google Maps)
Grocery distributor sells waterfront Boca Raton mansion for $16M
Grocery distributor sells waterfront Boca Raton mansion for $16M
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
arrow_forward_ios

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

Loading...