TAMARAC, FLA. — ARA Newmark has arranged the $53.8 million sale of Hidden Harbour, a 368-unit apartment community in Tamarac, roughly 15 miles northwest of Fort Lauderdale. Hampton Beebe, Avery Klann, Jonathan Senn, Matt Scarola, Dick Donnellan and Marc deBaptiste of ARA Newmark arranged the transaction on behalf of the seller, BH Management. Matthew Williams of NKF Capital Markets arranged a 10-year, $35.1 million acquisition loan on behalf of the buyer, Orstac Investments. The loan features a fixed interest rate of 4.02 percent and 10 years of interest-only payments. Constructed in 1988, Hidden Harbour includes one- and two-bedroom units. Orstac Investments has the option to enhance 218 of the units with updated cabinets, granite countertops, stainless steel appliances and vinyl plank wood flooring. Existing community amenities include two pools with a spa, poolside barbeque area, playground, lighted tennis courts, car care center and a fitness center. At the time of sale, Hidden Harbour was 93 percent occupied.
Hidden Harbour in Tamarac, Fla., features two pools with a spa, poolside barbeque area, playground, lighted tennis courts, car care center and a fitness center.
ARA Newmark Arranges $53.8M Sale of Apartment Community in Broward County
411