Gardens East Apartment in Palm Beach Gardens Sold to Greystar
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Multifamily giant Greystar acquired the Gardens East apartments in Palm Beach Gardens for $92.16 million – marking its second South Florida deal with the same seller within a few days.
Magazine Gardens East, care of PGIM Real Estate in Newark, New Jersey, sold the 448 apartments at 10000 Alternate A1A to GS Palm Beach Owner LLC, an affiliate of Charleston, South Carolina-based Greystar. Berkeley Point Capital, doing business as Newmark, awarded a $72.71 million mortgage to the buyer. Property data firm Vizzda confirmed the parties involved.
The price worked out to $205,714 per unit. The last time the property traded with a regular deed was in 2000 for $32.5 million, but it changed hands several times since through LLC transfers at…391 Views, 0 Comments