Broward Multifamily Units Sell For $69M

An Atlanta-based company named Cortland has bought a multifamily unit in Broward County for nearly $70 million, according to the Broward County Appraiser’s Office.

SW 12th FL Partners LLC, managed by Cortland Growth and Income Op L.P., which is based in Atlanta, bought the Cortland Deerfield Station apartment building from RRPIV Deerfield Station LLC of Palm Beach Gardens.

Corporation Service Co., a financial consultant business, acted as the agent for the buyer and is based in Tallahassee and Wilmington, North Carolina.

The Deerfield Beach apartment complex is located only minutes away from Boca Raton at 67 SW 12th Ave. near the Deerfield Beach Tri-Rail Station close to I-95. 

It was built in 2019 by Ram Realty Advisors LLC and has 226 units with a combination of one and two-bedroom apartments as well as studios. There’s also a fitness center, pool and grilling stations at the newly-built building. 

The complex last sold in 2017 for $6 million by Bancshares Realty LLC, a Pittsburgh company.