FT. LAUDERDALE, FL-Forest Properties Management, a real estate company based in Newton, Massachusetts, purchased the remaining 272 units at the Olivine at the Township Condominiums in Coconut Creek for $22.5 million or just under $83,000 per unit. The property previously closed 100 units with an average sales price of $227,415. The seller of the units was a consortium of lenders led by KeyBank.

The transaction was a short-sale/workout that included negotiations among three different lenders, the former owners and the buyer, says Hampton Beebe, senior vice president of Boca Raton-based ARA Florida, which represented the Prestige Builders Group, the previous owners of the property. 

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