Florida & Gulf Coast CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Circle Capital Partners Purchases 144-Unit Community in Sunrise for $22M
Miami-based Circle Capital Partners has completed the $22.2-million purchase of Heron Landing, a 144-unit apartment complex in Sunrise, FL.
Circle Capital arranged financing through Graystone Servicing Co., and will retain Weller Management to manage the 9.2-acre property built in 1989 and last sold in 1996 for $7.2 million.
Circle Capital plans significant upgrades to the complex, including full interior renovations to 66 original apartments along with and additional updates to 78 units that already have undergone improvements.
Circle Capital also will build a new free-standing fitness center; create a resident lounge from a renovated adjoining building; refurbish the leasing center; install new signage and landscaping; and improve overall “curb appeal,” according to Circle Capital co-founder Todd Linden. Heron Landing is the only apartment complex among its competition to be zoned for the Sunrise’s A+ rated elementary school directly across the street.
- ◦Sale/Acquisition
