BOCA RATON, FL-Archstone New Development Holdings is preparing to construct 26 townhomes and 389 apartments in Boca Raton after purchasing a property from Fifth Third Bank. The company paid $20.1 million for the 5.8-acre property at 400 E. Boca Raton Road and 425 E. Palmetto Park Road.
The bank seized the site in 2010 from developer Gregory K. Talbott. CBRE's Richard Tarquinio and Robert Given marketed the property on behalf of the bank and brokered the sale. For the full story, go to South Florida Business Journal .
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