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Luxury Core-Plus Multifamily Fetches $80M

PALM BEACH—Built in 1992, the same institutional owners had held San Marco at Broken Sound for over 20 years. Find out what made the asset so attractive to a Miami investor.

By Jennifer LeClaire | Updated on June 08, 2014

PALM BEACH—Exclusive and high-priced. Those are among the best words to describe the San Marco at Broken Sound, a 336-unit luxury villa and townhome community that just sold for $80.3 million. The sale price equals $238,988 per unit.  

ARA Florida-based principals Hampton Beebe and Avery Klann represented the seller, Chicago, IL-based Capri Capital Partners. ARA managing partners Marc deBaptiste and Richard Donnellan also worked on the deal. Miami-based BC Property Investments acquired the multifamily asset.

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