402-UNIT MULTIFAMILY PROPERTY SELLS FOR $10.5 MILLION IN FLORIDA

POMPANO BEACH, FLA. — A south Florida apartment operator and investor has purchased Palm Islands Apartments, which is located at 401 N.W. 34th St. in Pompano Beach. The 402-unit, 286,115-square-foot property sold for $10.5 million. The property offers 88 studios, 181 one-bedroom/one-bath units, 79 two-bedroom/one-and-a-half-bath units and 54 two-bedroom/two-bath units. All residences have central heating and air conditioning, individual hot water heaters, ceiling fans, spacious closets and fully equipped kitchens. Community amenities include a swimming pool and lighted tennis courts. Still Hunter III and Evan Kristol of Marcus & Millichap represented the undisclosed seller; Douglas Mandel and Ryan Nee, also of Marcus & Millichap, represented the buyer in the transaction.