Berkadia Brokers $36.4M Sale of Apartment Community in West Palm Beach

WEST PALM BEACH, FLA. — Berkadia has brokered the $36.4 million sale of Viera of the Palm Beaches, a 300-unit apartment community located at 4860 Sandstone Lane in West Palm Beach. Nashville, Tenn.-based Palm Beach Multifamily Partners LLC sold the asset to a partnership between two unnamed companies based in San Francisco and New York. Built in 1987, the pet-friendly property features one- and two-bedroom units with balconies or patios, in-unit washers and dryers, stainless steel appliances and wood laminate flooring. Community amenities include a clubhouse, fitness center, business center, swimming pool, tennis courts, barbecue area and trails for running, hiking and biking. Tal Frydman, Yoav Yuhjtman and Fernando Polanco of Berkadia’s Boca Raton office, along with Cole Whitaker of the firm’s Orlando office, brokered the sale. Viera of the Palm Beaches was 93 percent occupied at the time of sale.