{"id":1004050309,"date":"2012-11-09T12:22:00","date_gmt":"2012-11-09T20:22:00","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=79385"},"modified":"2022-12-08T20:28:53","modified_gmt":"2022-12-09T04:28:53","slug":"south-florida-multifamily-properties-trade-for-combined-price-of-100m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/south-florida-multifamily-properties-trade-for-combined-price-of-100m\/","title":{"rendered":"South Florida Multifamily Properties Trade for Combined Price of $100M"},"content":{"rendered":"

By Georgiana Mihaila, Associate Editor<\/em><\/p>\n

\"\"<\/a><\/p>\n

Behringer Harvard\u2019s 560-unit Parrot\u2019s Landing recently changed ownership, as a Toronto-based real estate investment recently paid $56.3 million for the North Lauderdale property. The Boca Raton office of ARA brokered the sale of Parrot’s Landing, which was managed by a team including Avery Klann, Marc deBaptiste and Hampton Beebe.<\/p>\n

Parrot\u2019s Landing has been a part of Behringer Harvard\u2019s portfolio since 2010, when the company had acquired a 90 percent ownership interest through a joint venture between Behringer Harvard Opportunity REIT II Inc.\u2014a public non-listed real estate investment trust\u2014and Grand Peaks Properties, a Denver-based real estate firm that acquired a 10 percent ownership interest and managed the property.<\/p>\n

“Parrot’s Landing is an excellent example of our investment strategy at work, from acquisition to disposition,” said Michael O’Hanlon, CEO of Behringer Harvard Opportunity REIT II Inc. “We acquired it at a compelling basis and have been pleased with its performance in terms of sustained occupancy and net operating income, which exceeded expectations.”<\/p>\n

Located in North Lauderdale\u2014a suburb in central Broward County approximately 10 miles northwest of Fort Lauderdale\u2014the multifamily community comprises 24 three-story residential buildings constructed in two phases, three swimming pools, a fitness center, a car-care center and a lighted tennis court. Units feature up to three bedrooms and two baths and average 927 square feet.<\/p>\n

Another South Florida multifamily that changed hands this past week was the 396-unit Greenwich Park Apartments in North Miami. The buyer, an affiliate of Waterton Residential, paid $42.5 million for the 1550 NE 123rd St. property, according to the South Florida Business Journal. The seller was Real Estate Capital Partners.<\/p>\n

Image Parrot’s Landing via Homes.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Behringer Harvard’s 560-unit Parrot’s Landing recently changed ownership, as a Toronto-based real estate investment recently paid $56.3 million for the North Lauderdale property. The Boca Raton office of ARA brokered the sale of Parrot’s Landing, which was managed by a team including Avery Klann, Marc deBaptiste and Hampton Beebe.<\/p>\n","protected":false},"author":39,"featured_media":1004506362,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1492,21742],"tags":[],"class_list":["post-1004050309","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-miami","category-latest"],"acf":[],"yoast_head":"\nSouth Florida Multifamily Properties Trade for Combined Price of $100M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/south-florida-multifamily-properties-trade-for-combined-price-of-100m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Florida Multifamily Properties Trade for Combined Price of $100M\" \/>\n<meta property=\"og:description\" content=\"Behringer Harvard’s 560-unit Parrot’s Landing recently changed ownership, as a Toronto-based real estate investment recently paid $56.3 million for the North Lauderdale property. 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