Cortland Acquires Multifamily Property In Boca Raton For $230M

A multifamily property located at 20940 Uptown Ave in Boca Raton was recently sold for a staggering price of $230,000,000. The property consists of 456 units, resulting in a per unit price of $504,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $230,000,000
• Address: 20940 Uptown Ave, Boca Raton
• Market: Boca Raton

The buyer of this property was Cortland, represented by Steven DeFrancis. On the other hand, the seller was comprised of multiple entities including Giles Capital Group represented by Rick Giles, Rosemurgy Properties represented by Alexander Rosemurgy, Schmier Property Group, and Wheelock Street Capital.

The sale was facilitated by a team of brokers from Cushman & Wakefield, namely Robert Given, Troy Ballard, Neal Victor, and Zach Sackley.