Broward Apartment Complex Trades At Nearly 50% Gain In Just 3 Years

Feb 03, 2016 No Comments by

Melo Real Estate associate Ronald Meyerson, P.A negotiated the sale of a seven mid-rise building multifamily asset for a total of $10 million, or $71,428 per unit.

An affiliate of Toronto, Canada-based Brass Enterprises sold Oasis Apartments, a 140-unit complex located at 131 Northeast 38th Street in Oakland Park, to Hollywood, Florida-based property management firm Coastline Management Group.   Brass paid $7 million for the multifamily complex in 2012.

 

“We identified the off-market asset on behalf of our client, Coastline Management Group, and negotiated the deal over a 5-month period, making sure that it was mutually beneficial to both sides,” commented Meyerson.

Oasis Apartments Oakland Park-1.jpgThe deal closed January 21.

Charles Rutenberg Realty assisted in the transaction.

 

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Broward County Multifamily, Industry News, Multifamily
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