March 3, 2020
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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