The Colony Park affordable apartment complex near West Palm Beach was sold for $12.6 million.
Colony Park Ltd., an affiliate of Naples-based SCA Properties, sold the 130 income-restricted apartments at 8215 Belvedere Road to FF Colony Park LLC, an affiliate of Tampa-based Southport Financial Services. The price equated to $96,923 a unit.
The apartments were built on the 16.5-acre site in 2002. The complex includes a pool and clubhouse.
This is the second deal in Palm Beach County between these parties in the past 30 days. SCA Properties recently sold the Marina Bay Apartments near Lake Worth to Southport for $82,552 a unit.
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Ranked by Sq. ft. managed, July 2017
Rank Company Sq. ft. managed, July 2017 1 Cushman & Wakefield of Florida 24.23 million 2 CBRE 20.79 million 3 Prologis 14.7 million View This List