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MIAMI-Lake Worth Apartments LLC has sold Lake Worth Gardens, a 170-unit independent living retirement facility, to Lake Worth Gardens Community LLC for $6.8 million. The property, located 3927 Hadjes Dr., in Lake Worth, FL, consists of two courtyard buildings on 7.29 acres. The estimated unit value, according to the Palm Beach County property appraiser’s office, is $10,000.

Also according to the property appraiser’s office, Lake Worth Apartments LLC bought the facility in August 2000 for $8.35 million. The facility is currently approximately 94% occupied.

Lake Worth Gardens Community LLC’s main equity investors are based in Chicago. Bruce Gibson, a member of the Senior Housing Services Group and senior associate with the Miami office of CB Richard Ellis Inc. represented Lake Worth Apartments LLC of Newport Beach, CA, in the sale. Lake Worth Gardens Community LLC’s principals and their attorney handled the deal on the buyer side, according to Gibson.

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