Condo Converter Pays $74.1Mln for Fla. Apartments

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Condo Converter Pays $74.1Mln for Fla. Apartments

Thursday, January 26, 2006

An affiliate of Elad Group Florida has paid $74.1 million for Park at Sawgrass Mills, a 390-unit apartment property in Sunrise, Fla. The property, at 1640 NW 128th Drive, was sold by ING Clarion Partners, which was advised by Apartment Realty Advisors' Boca Raton, Fla., office. Elad Group is a Miami Lakes, Fla., condominium converter. The property it purchased was built in 1995 and is comprised of 15 buildings that include 110 parking spaces and 54 storage units. It also includes a business center, fitness center, clubhouse and two large swimming pools.