X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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. 

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

 

GlobeSt. Multifamily Spring 2022 (Formerly APTS)Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.