Oceanfront Apartment Complex "Villa Oceana" Sells for $51.5 Million

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Multifamily investment company Laramar sold the 160-unit Villa Oceana apartment complex yesterday for $51.5 million. New York-based TGM Associates purchased the property with a new loan of over $33 million with Fannie Mae.

The Villa Oceana is located on Ocean Boulevard in Boca Raton, directly against the Atlantic Ocean to the east and the Intracoastal Waterway to the west. The complex totals nearly 214,000 square feet in three six-story buildings built in 1967 and renovated in 2009. It includes units of one, two, and three bedrooms as well as in-unit washers and dryers.

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Lakeside Plaza Community Center and Holiday Inn in Boca Raton Sell for $54 Million

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The Lakeside Plaza retail center, along with the adjacent Holiday Inn Express, was purchased by South Carolina-based EDENS on Thursday. Local investment group Ocean Properties sold the Boca Raton properties for $54 million.

Located near the southwest corner of Florida's Turnpike and Glades Road, Lakeside Plaza totals over 52,000 square feet in five buildings. Anchors include "Marshalls" and "HomeGoods".

The Holiday Inn Express Boca Raton consists of 97 units in one 2-story building built in 1973. There is one pool on the property.

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488-Unit Alister Boca Raton Sells for nearly $71 Million

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Fairfield Residential sold the Alister Boca Raton apartment complex yesterday for nearly $71 million. Buyer Mill Creek Residential funded the sale with a new loan of $46 million with CBRE.

The Alister Boca Raton apartment complex consists of 488 units built in 1988. It is within minutes of a Publix Supermaret as well as the Boca Dunes Golf & Country Club. It is slated for renovation in 2016.

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Arbor Oaks Apartments Sell for $77 Million

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LSR Communities sold the 360-unit Arbor Oaks Apartments on Friday for $77 million. Los-Angeles based JRK Property Holdings purchased the property with a new 10-year loan of $58.6 million.

Located south of the State Road 7 and Glades Road intersection in Boca Raton, Arbor Oaks sits on 31 acres and consists of eighteen three-story buildings totaling 25,000 square feet. It includes one pool, clubhouse, and a lake.

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