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Passco Makes Another Major MF Move in Florida
FINAL Early Bird Alert: Connect Apartments is planned for September 28th in Los Angeles. Here’s where to get more information and register.
Passco Companies acquired Ocean Walk Apartments, a 297-unit multifamily community in Key West, FL for $101.5 million, the largest single-asset transaction in the Irvine, CA-based firm’s history. The seller was a partnership between Mast Capital and Rockpoint Group.
Passco’s Colin Gillis notes the property is one of only three professionally-managed multifamily communities in the high barrier-to-entry Key West market, representing nearly half of the multifamily supply on the entire island.
Located on the Atlantic side of the island at 3900 South Roosevelt Blvd., Ocean Walk is located near the beach, a diverse variety of restaurants, retail, entertainment hubs in downtown and the Key West International Airport.
ARA Newmark’s Hampton Beebe represented both parties in the transaction. KeyBank Real Estate Capital’s Chris Black and Caleb Marten arranged acquisition financing through Fannie Mae.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition

