West Shore buys 542-unit apartment complex in Palm Beach Gardens for $118M
West Shore bought a 542-unit apartment complex in Palm Beach Gardens for $117.9 million, marking a continuing uptick of multifamily investment sales in South Florida. Boston-based West Shore bought the Palm Beach Gardens Apartments at 4120 Union Square Boulevard from Aventura-based Advenir, according to records and real estate database Vizzda. The buyer borrowed a $550 million loan that is cross-collateralized across this complex, a property in Pinellas County and out-of-state properties, with the Florida properties representing 25.3 percent of the collateral. Citybank is the lender of the financing, which matures in 2030. Completed in 1970 and 1971, Palm Beach Gardens […]This article originally appeared on The Real Deal. Click here to read the full story.
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