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NKF Brokers $58M Sale of Fort Lauderdale Apartment Property

NKF has arranged the $58 million sale of Serramar Apartments, a 302-unit, value-add apartment property in Fort Lauderdale.

Built in 1986, the gated community consists of 23, two-story residential buildings. At the time of sale, the property was 95% occupied. Amenities include a recently renovated clubhouse with business center, two swimming pools, outdoor basketball court and a fitness center.

Hampton Beebe, Avery Klann and Jonathan Senn of NKF represented the seller, Bar Invest Group, in the transaction. The buyer was Milbrook Properties.

Bar Invest Group acquired Serramar Apartments for $44 million in 2016, and made substantial exterior and interior renovations to the property.

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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.

  • ◦Sale/Acquisition