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An Atlanta multifamily developer and investor has jumped into Boynton Beach with a major mixed-use buy.
Pollack Shores purchased Las Ventanas, a 15-acre, multifamily mixed-use park that includes nearly 500 apartment units and 42k SF of retail, for $109M from Epoch Residential. ARA Newmark's Avery Klann, Hampton Beebe, Jonathan Senn, Dick Donnellan and Marc deBaptiste brokered the sale for Epoch and its JV partner.
The campus, at the northwest corner of Woolbright Road and Federal Highway, is within striking distance of the beach, a big lure for Pollack Shores, Klann said.
“The buyer plans a significant value-add program to take advantage of strong resident demographics and the current spread in rents compared to newer properties," he said.
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