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Florida & Gulf Coast  + Apartments  |  October 31, 2019
David Cohen
By: David Cohen

Prism Multifamily Purchases Broward Apartment Community for $47M

Canadian investment group Prism Multifamily has acquired 72 West, a 291-unit multifamily community in Tamarac for $47 million.

Located at 8650 NW 61st St., 72 West was built in 1987 and consists of one- and two-bedroom apartments ranging from 756 to 899 square feet. Amenities include two clubhouses with pools. The seller, TEG JAT Owner LLC, acquired the property as a fractured condo (222 out of 291 units) in 2016 for $22 million, and has since bought back the privately-owned units, collapsed the HOA and rebranded the property as 72 West.

Roberto Pesant and Jaret Turkell of Berkadia’s Miami office, as well as Yoav Yuhjtman of Berkadia’s Boca Raton office, represented the seller, New York-based investment group TEG JAT Owner LLC, in the transaction.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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