RIVIERA BEACH, FL-Morguard North American Residential REIT haspaid $42.1 million for Woodbine, a 408-unit apartment community at9000 Woodbine Trail in Riviera Beach. The garden-style apartmentcommunity is situated on the north side of the VA MedicalCenter.
Woodbine, built in 2000, was 95% occupied at closing. ARA SouthFlorida-based Principals Avery Klann and Richard Donnellan workedon the deal with Hampton Beebe to represent the institutionalseller. For the full story, go to South Florida Business Journal .
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