FORT LAUDERDALE, FL-Behringer Harvard has acquired a garden-style apartment community consisting of 280 units at 5750 Lakeside Drive in Margate for Behringer Harvard Opportunity REIT II, Inc. The multifamily community, which contains 13 apartment buildings on a 13.8-acre lot, will be renamed as Lakes of Margate.
Behringer Harvard has purchased a 92.5% ownership stake and Denver-based Grand Peaks Properties has purchased a 7.5% ownership stake in the community. The new owners have plans to spend $2.3 million to improve the property. For the full story, go to Florida Real Estate Journal .
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