The 311-unit Floresta apartments were sold to Northland Floresta, an affiliate of Newton, Massachusetts-based Northland Investment Group. TGM Associates sold the apartments, located in Jupiter’s Abacoa community, for $76 million, which rounds out to $244,373 per unit. It previously sold in 2007 for $60.25 million.
“Floresta is a Class A quality asset in one of the most desirable locations in Florida,” says Steve Rosenthal, CEO. “Situated on 33 beautiful acres including a private lake, it offers the best of what residents expect from life in southern Florida—vibrant outdoor spaces, top-notch amenities and convenient access to the classic charm and modern shopping, dining and entertainment options of Abacoa and Palm Beach County.”
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