Symphony Residential nabs apartment complex near Sawgrass Mills

The Tamarac property last sold for $12.35 million in 2017

Miami /
Jun.June 24, 2020 11:34 AM
Vizcaya Villas at 10011 South Nob Hill Circle, Newmark Knight Frank’s Tal Frydman, Avery Klann, Hampton Beebe

Vizcaya Villas at 10011 South Nob Hill Circle, Newmark Knight Frank’s Tal Frydman, Avery Klann, Hampton Beebe

Symphony Residential bought an apartment complex near Sawgrass Mills for $16.9 million.

The Coral Springs-based investment firm bought the 129-unit Vizcaya Villas at 10011 South Nob Hill Circle in Tamarac for $130,620 per unit, according to CoStar. Hollywood-based Coastline Management Group sold the property.

The property is east of the Sawgrass Expressway and south of Atlantic Boulevard.

Newmark Knight Frank’s Tal Frydman, Avery Klann, Hampton Beebe, Tyler Minix and Jonathan Senn represented the seller in the deal, according to a release.

The property was built in 1990 and consists of 18 one-story buildings featuring a mix of one- and two-bedroom units. The apartments are within five minutes of Sawgrass Mills.

The development last sold for $12.35 million in 2017, records show. The previous seller, Greenview Tamarac, restored the complex’s interiors and common areas and made structural repairs.

Symphony Residential has built and sold over 1,000 homes over the past two decades, totaling more than $250 million in sales, according to its website.

Demand for apartments in the western Broward County suburbs has exploded in recent years as rents in Fort Lauderdale and Miami’s urban core have become unaffordable to many renters. Western Broward County also attracted large corporate tenants like American Express, which has its regional headquarters in Sunrise.


Related Articles

arrow_forward_ios
10300 NW 121st Way in Medley, 9290 NW 112th Avenue in Medley, NW 102nd Ave in Hialeah and 5601 N Hiatus Rd in Tamarac (Google Maps)
Here are South Florida’s biggest industrial leases of 2022
Here are South Florida’s biggest industrial leases of 2022
Blackstone’s Stephen Schwarzman and the Hampton Inn hotel at 5701 Madison Avenue (Google Maps, Getty)
Blackstone sells Tamarac Hampton Inn for $18M
Blackstone sells Tamarac Hampton Inn for $18M
Lease roundup: Plum Market to open in Aventura, Sprouts in Boca Raton, Best Buy in Dania Beach
Lease roundup: Plum Market to open in Aventura, Sprouts in Boca Raton, Best Buy in Dania Beach
Lease roundup: Plum Market to open in Aventura, Sprouts in Boca Raton, Best Buy in Dania Beach
Developer Arnaud Karsenti and Tamarac City Manager Michael Cernech (13th Floor, Florida City and County Management)
Tamarac city manager charged with conspiracy against developer Arnaud Karsenti
Tamarac city manager charged with conspiracy against developer Arnaud Karsenti
Covenant Capital Group buys Tamarac apartments for $69M
Covenant Capital Group buys Tamarac apartments for $69M
Covenant Capital Group buys Tamarac apartments for $69M
Eden Multifamily heads Jay Massirman and Jay Jacobson with Cypress Equity Investments CEO Michael Sorochinsky (rendering courtesy of MSA Architects)
Eden Multifamily, Cypress Equity score $24M construction loan for Tamarac apartments
Eden Multifamily, Cypress Equity score $24M construction loan for Tamarac apartments
13th Floor’s Arnaud Karsenti, renderings of the Woodlands project and Bruce and Shawn Chait. (13 Floor, Woodlands 2020, Florida Department of Law Enforcement via Twitter)
Bruce and Shawn Chait arrested on charges of extorting 13th Floor Investments
Bruce and Shawn Chait arrested on charges of extorting 13th Floor Investments
Genghiz Erden and 6510-6566 and 6570-6596 North University Drive (Google Maps)
Investors pay $7M for Tamarac shopping center
Investors pay $7M for Tamarac shopping center
arrow_forward_ios

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

Loading...