Sterling Equities Acquires Multifamily Asset In Pompano Beach For $95.3M

Sterling Equities, led by Fred Wilpon, has acquired a multifamily property located at 1333 South Ocean Boulevard in Pompano Beach. The property, consisting of 211 units, was sold for a total price of $95,300,000, resulting in a per unit price of approximately $451,659.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $95,300,000
• Address: 1333 South Ocean Boulevard
• Market: Pompano Beach

The sale was facilitated by The Carlyle Group, represented by Kewsong Lee, and Merrimac Ventures, represented by Dev Motwani. Alliance Residential, represented by Bruce Ward, was also involved in the transaction as the seller.