APARTMENT COMPLEX SOLD FOR $40 MILLION

BOCA RATON, FLA. — A private Canadian buyer has purchased the 360-unit Arbor Oaks at Boca Raton from an undisclosed institutional investor for $40 million. The property, which is 91 percent occupied, is located at 9817 Arbor Oaks Lane in Boca Raton. Amenities include a business center, a clubhouse and a heated swimming pool. Avery Klann, Hampton Beebe and Richard Donnellan of Apartment Realty Advisors’ Boca Raton office represented the seller.