Greystar, Artemis Buy Palm Beach Senior Apartment Complex: The South Florida Deal Sheet
The nation's largest apartment landlord has added a Palm Beach Gardens senior housing community to its portfolio
Greystar and Artemis Real Estate Partners purchased the 220-unit Everleigh Palm Beach Gardens apartment complex from Sina Cos. and United Group of Cos. for $69M, according to property records provided by Vizzda.
The buyers borrowed $50M from PGIM Real Estate to purchase the 271K SF complex, with two five-story buildings and a clubhouse, that was built in 2021 at 3660 RCA Blvd. The apartments are age-restricted to residents 55 years and older.
The one- and two-bedroom apartments span 726 SF to 1,322 SF and range from $2,764 to $6,910 a month, according to Apartments.com. Amenities include a pool, grilling stations, pickleball courts, a community dining room, a lounge, a media center and a spa.
SALES
The Dermot Co. sold a 456-unit townhome and apartment community in Boynton Beach, according to a release.
The buyer, IMT Capital, purchased the Seabourn Apartments at 3501 S. Federal Highway for $183M and renamed it IMT Gulfstream, the South Florida Business Journal reported.
The apartments were built in 2012 and include one-, two- and three-bedroom units with rents that average between $2,140 and $3,380 a month, according to Apartments.com.
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Epic Real Estate Partners has turned a tidy profit on its investment in the Publix-anchored Jacaranda Plaza in Plantation. The Austin-based investor and its partner, Heitman, sold the three-building shopping center at 8101-8373 W. Sunrise Blvd. to Core Investment Management, according to a release. A joint venture of Core and James Resnick paid $53M for the 175K SF property, backed by a $34.4M mortgage from U.S. Bank, according to property records provided by Vizzda.
The center is 98% leased and counts Publix, Ross Dress for Less, Five Below and Planet Fitness as tenants. JLL's Danny Finkle, Jorge Portela and Evan Lahr negotiated the sale, and JLL's Chris Drew, Brian Gaswirth and Luke Maganas arranged the loan.
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An entity tracing to Christina McGuire and Juliana Fehlhaber sold three Fort Lauderdale industrial flex buildings at 2020 W. McNab Road for $21M, according to property records provided by Vizzda.
The 101K SF Trion center was built on a 5-acre site in 1975 and was acquired by an entity tracing to Jacob Goldman of SBDC Management, according to Traded.
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Affiliates of Lloyd Jones LLC sold off a 206-unit apartment complex in Pembroke Pines to Ortsac Capital Group for $52M, according to property records provided by Vizzda.
The price for the Ventura Pointe Apartments at 7850 Pasadena Blvd. is a discount from the $55.6M that Lloyd Jones purchased it for in 2019.
Ortsac Capital Group assumed the seller's $38.6M debt from MetLife, which has now been assigned to Newmark and amended to a Fannie Mae loan of $45M, according to Vizzda.
Ventura Pointe has a range of one- to three-bedroom units that span 751 SF to 1,232 SF. Monthly rents start at $2,251, according to Apartments.com.
The complex, built in 2018 on nearly 10 acres, includes two five-story buildings, two four-story buildings, a two-story clubhouse and five garages that total 256K SF.
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Royal Senior Care sold off a 141-unit senior living facility to Welltower for $47M, according to property records provided by Vizzda.
The 10-story Barclay at Parksquare at 2940 NE 207 St. in Aventura was built in 2018.
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Limestone Asset Management and Orion Real Estate Group sold the Pinecrest Town Center retail and office property for $42M, according to a release.
The buyer wasn't disclosed and is not in public records yet.
Limestone and Orion purchased the property at 12651 S. Dixie Highway in Pinecrest for $32M in 2021, according to property records, and then completed a $6M renovation and improvement to the property in February 2024. Upgrades were made to the facade and storefronts and included installing impact windows, upgrading lighting and adding a rooftop parking area.
The 228K SF center was built in 1985 and is 90% occupied with tenants such as Sage Dental, Coldwell Banker and F45 Training.
FINANCING
Allen Morris Co. landed a $138M loan from BDT & MSD Partners for the construction of the mixed-use Coconut Grove Ziggurat project, according to a release.
The project includes a five-story, 100K SF office building with a rooftop restaurant, which is where Allen Morris plans to move its headquarters, and is set to rise on 1.7 acres at 3101 Grand Ave.
The developer is also building is a three-story condo with 18 units and 45K SF of retail on the ground floor. Residences will range from 1,254 SF to more than 5K SF with prices starting at $3.5M and rising to $15M.
The current structure on the site is the Grove Laundry and Cleaners, which was established by the Espinosa family in 1961. The family partnered with The Allen Morris Co. on the project and will continue operating in the new project.
THIS AND THAT
Real estate investment firm GAIA Real Estate is moving its headquarters from New York to Miami, according to a release.
The company opened its first Miami office at the beginning of 2025 at 8163 NE Second Ave. and is now expanding its square footage with two new leases that will start early next year.
The firm, which has acquired more than 20,000 residential units and manages about $4B in assets, will continue to maintain its presence at Carnegie Hall Tower on West 57th Street in New York.
GAIA employs 35 employees and 150 people indirectly on its property sites and is looking to increase that in the Miami market.
MILESTONES
PPG topped off the eight-story Bay Harbor Towers, according to a release.
The developers expect to finish the tower at 10141 East Bay Harbor Drive in the third quarter of 2026.
The 44-unit condo tower is 75% sold. The remaining nine residences are on sale starting at $2.6M, and the remaining two penthouses are starting at $10M. Units range from 1,857 SF to 4,902 SF with two to four bedrooms.
Amenities include a private marina along the Indian Creek waterway, an indoor pool, a rooftop infinity pool, lounge areas, a sunset Jacuzzi and a wellness center with a gym, hot and cold plunge pools, a sauna, and a steam room.
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Resia celebrated the opening of the 420-unit Resia Golden Glades apartment complex in North Miami, according to a release.
The complex features prebuilt bathroom and kitchen components, including electrical and plumbing, built at the Resia Manufacturing facility in Georgia.
Located at 15955 NW Sixth Ave., Golden Glades offers one, two and three bedrooms spanning 609 SF to 1,024 SF. Monthly rents range from $2,425 to $3,905, according to Apartments.com.
Residents have access to a fitness center, a pool, a clubhouse, a playground, a pet wash and coworking spaces. The complex also includes a 705-space parking garage.
