Somerset Grove LLC Acquires 612-Unit Somerset IV & V Apartments In Lauderdale Lakes For $77.12M

The 612-unit Somerset IV & V apartment property in Lauderdale Lakes, Florida, has been acquired by Spring Valley-based Somerset Grove LLC for $77.12 million. Built in 1982, the property offers one- and two-bedroom units and features amenities such as a swimming pool and on-site maintenance.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $77,120,000
• Address: 2690-2770 Somerset Drive, Lauderdale Lakes
• Market: Lauderdale Lakes
• Acres: 36.1
• Buyer: Somerset Grove LLC
• Units: 612
• Price per Unit: $126,013

Spring Valley-based Somerset Grove LLC, led by their representative, completed the acquisition of the Somerset IV & V apartment property in Lauderdale Lakes. The buyer purchased the property for $77.12 million, securing 612 units at a price per unit of $126,013. The multifamily property, built in 1982, offers both one- and two-bedroom units and boasts amenities such as a swimming pool and on-site maintenance.