Advenir buys 249-unit apartment building in Pompano Beach for $61M
Advenir bought a 249-unit apartment building in Pompano Beach for $60.9 million, amid an uptick in multifamily investment sales in South Florida. Aventura-based Advenir bought the six-story Bell Lighthouse Point at 4611 North Federal Highway from Greensboro, North Carolina-based Bell Partners, according to records and real estate database Vizzda. The buyer assumed the seller’s $37.6 million outstanding loan balance and amended the debt to a $53.3 million Freddie Mac loan. Completed in 2015 on a 5.3-acre site, Bell Lighthouse Point consists of one-bedroom to three-bedroom apartments, Vizzda records show. Monthly rents aren’t listed on the property’s website. The sale equates […]This article originally appeared on The Real Deal. Click here to read the full story.
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