Greystar Acquires Park Place At Turtle Run Apartments For $56.12M In Coral Springs

The Park Place at Turtle Run apartment complex in Coral Springs has been sold for $56.12 million. The multifamily property spans across 15.8 acres and consists of 350 apartments. The deal reflects a price of $160,343 per unit. The complex offers amenities such as a pool and fitness center, providing a convenient and comfortable living experience for the residents. Situated at 3600 Terrapin Lane, the property is located in the thriving market of Coral Springs.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $56,120,000
• Acres: 15.8
• Units: 350
• Price Per Unit: $160,343
• Address: 3600 Terrapin Lane
• Market: Coral Springs

The buyer of the Park Place at Turtle Run apartment complex is Greystar, represented by Bob Faith. The seller, on the other hand, is PGIM Real Estate, represented by Eric Adler. Berkeley Point Capital served as the lender in this transaction. Despite a slowdown in South Florida apartment sales, the purchase of this property highlights the continued value some buyers find in the market, showcasing the confidence and potential for growth in the area.