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$230M for Boca Raton apartments, the priciest multifamily sale of the year

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new apartment community in Boca Raton sold for $230 million, marking the most expensive multifamily sale in South Florida this year.

Giles Capital Group, Rosemurgy Properties, Schmier Property Group and Wheelock Street Capital sold the 456-unit, seven-building development to Atlanta-based Cortland.

The Residences at Uptown Boca was completed last year, and the sale breaks down to about $504,000 per apartment. Units range from 718 square feet to 1,737 square feet and from one to four bedrooms.

According to the release, the Boca community includes a 24-hour gym and ...

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