July 25, 2017 Comments Off on Castle Lanterra Enters So Florida with $63.5M MF Buy Views: 839 Florida, National News, Southeast

Castle Lanterra Enters So Florida with $63.5M MF Buy

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New York-based Castle Lanterra Properties expanded its multifamily portfolio into Palm Beach County, FL with the purchase of the 259-unit Loftin Place apartment community. Cypress Real Estate Advisors sold the property for $63.5 million.

Located in downtown West Palm Beach, Loftin Place is a class A-plus, mid-rise community offering panoramic views of the city, Intracoastal Waterway and scenic Atlantic Ocean beaches. Completed in late 2015, the eight-story property features amenities including a rooftop activities and sundeck, resort-style pool, state-of-the-art fitness center and yoga studio, outdoor billiard table and BBQ area.

ARA Newmark’s Avery Klann represented the seller. Greenberg Traurig’s David Layman and Berkeley Point Capital’s Mitch Clarfield handled the deal for the buyer.

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