Harbor Group International Acquires Multifamily Property In Boca Raton For $81M

A multifamily property located at 300 West Palmetto Park Road in Boca Raton has been sold for a price of $81,000,000. The property spans 350,010 square feet, resulting in a price per square foot of $231. Situated on 8.3 acres of land, the property has a price per acre value of $9,759,036. The transaction involved the sale of 248 units, with an average price per unit of $326,613.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $81,000,000
• Address: 300 West Palmetto Park Road, Boca Raton
• Market: Boca Raton

The buyer in this transaction was Harbor Group International, represented by Jordan Slone and T. Richard Litton Jr. On the other hand, the seller of the property was PGIM Real Estate, represented by Eric Adler.