Avanti Residential Acquires Multifamily Property In Boynton Beach For $105M

An apartment complex located at 101 South Federal Highway in Boynton Beach has been sold in a recent transaction. The multifamily property was bought by Avanti Residential from the seller, LeCesse Development Corporation. The sale took place on June 28, 2021, for a total price of $105,000,000. The apartment complex comprises 341 units, resulting in a price per unit of $307,918. Spanning across 4.5 acres of land, the property had a price per acre of $23,333,333.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $105,000,000
• Address: 101 South Federal Highway, Boynton Beach
• Market: Boynton Beach
• Buyer: Avanti Residential
• Seller: LeCesse Development Corporation
• Units: 341
• Price Per Unit: $307,918
• Acres: 4.5
• Price Per Acre: $23,333,333

Salvador F. Leccese and Christian Garner were the representatives involved in the transaction.