BERGER CLOSES $6.76M SALE OF FLA. MULTIFAMILY PARCEL

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WEST PALM BEACH, FLA. — Fort Lauderdale, Fla.-based Berger Commercial Realty Corp. has brokered the $6.76 million sale of a 21.49-acre multifamily parcel located at 715 Hank Aaron Dr. in West Palm Beach. BankFirst of South Dakota took the title to the land in August 2009 after winning a $44.8 million foreclosure against Hallandale Beach-based developer SWP Palm Beach. The property was approved for 620 condominiums, 57 townhouses and 20,000 square feet of retail but construction never began. Reese Stigliano of Berger represented the seller, BankFirst of South Dakota. The Buyer was West Palm Beach-based Aaron Drive Holdings. Development plans and a timetable for construction are unknown.

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