BOCA RATON, FL-PR III Broadstone North Boca LLC, a firm administered by Alliance Residential Co., has purchased North Boca Village Center for $9.4 million, a value 64% lower than its foreclosed loan of $25.8 million. Fifth Third Bank's affiliate, Walnut & Vine Properties was the seller of the property at 7867 and 7887 N. Federal Highway. The bank took control over the property subsequent to foreclosing on its loan.
Alliance Residential proposes to construct a 386-unit apartment community on the 20.3-acre site. For the full story, go to South Florida Business Journal .
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