A Jupiter property picked up for $1.2 million and developed into an apartment community just sold for $42 million.
The deal closed Feb. 17, reeling in a sizable profit for the developer, Palm Beach Gardens-based Eastwind Development LLC. In a joint venture with Jupiter-based Index Investment Group, Eastwind purchased the 6.4-acre parcel in 2012 and completed the 190-unit Dakota at Abacoa apartment complex in June 2014, according to a news release. The price works out to $221,053 per unit.
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