Milestone buys 206-unit apartment complex near Boynton Beach for $46M
The Milestone Group bought a 206-unit apartment complex near Boynton Beach for $46.4 million, marking an uptick in South Florida multifamily investment sales. Dallas-based Milestone bought the Casa Brera at Toscana Isles at 4725 Via Bari in unincorporated Palm Beach County from Ramsey, New Jersey-based Raia Capital Management, according to records and real estate database Vizzda. The deal breaks down to $225,000 per unit. Hampton Beebe and Avery Klann of Newmark represented the seller. The buyer assumed the seller’s $27.4 million Fannie Mae loan on the property and took out an additional $7.7 million Fannie Mae loan, Vizzda records show. […]This article originally appeared on The Real Deal. Click here to read the full story.
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