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Florida & Gulf Coast  + South Florida  + Apartments  |  January 31, 2022
Berkadia has arranged the sale of two apartment communities with a total of 336 units in Lake Worth, FL for a combined price of $81.5 million
Lisa McDuffie
By: Lisa McDuffie

Berkadia Arranges $82M Sale of Lake Worth Apartment Communities

Berkadia arranged the sale of Village at Lake Worth and Village at Lake Osborne, two apartment communities with a total of 336 units in Lake Worth, FL. Social Housing, Inc. acquired the Palm Beach County properties for a combined $81.5 million.

Roberto Pesant, Jaret Turkell, Omar Morales and Jose Mota of Berkadia Miami marketed the property on behalf of the seller, AHS Residential.

“Outsized demand combined with the county’s under-supply drives the submarket’s strong apartment fundamentals,” said Pesant.  “The Lake Worth submarket remained at 95% occupancy or above in 2020 and is poised for additional rent growth.”

The 2017-constructed Village at Lake Osborne on Lake Worth Road offers 118 units of one- and two-bedroom apartments. The 2015-constructed Village at Lake Worth also on Lake Worth Road offers 216 units of one-, two- and three-bedroom apartments.

Both properties are close to Palm Beach State College, Downtown Lake Worth, JFK Medical Center, and Palm Beach County Park Airport.

Photo, l-r: Village at Lake Osborne, Village at Lake Worth

Read More News Stories About: Berkadia
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Inside The Story

Berkadia’s Pesant

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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