Benjamin Schall Of AvalonBay Communities Acquires Solaire At Coconut Creek For $98.28M

The asset involved in this closed transaction is a multifamily complex located at 5401-5409 Wiles Road in Coconut Creek. The property, known as Avalon Coconut Creek, consists of 270 units with a total square footage of 316,222. The sale price for the asset was $98,280,000, reflecting a per unit price of $364,000 and a price per square foot of $311. The complex was built in 2013 and was previously sold for $69 million in 2022.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $98,280,000
• Units: 270
• Price Per Unit: $364,000
• Square Footage: 316,222
• Price Per Square Foot: $311
• Buyer: Benjamin Schall - AvalonBay Communities
• Seller: Richard Schechter - Bainbridge Cos; Rockwood Capital
• Date of Sale: 08/15/2025

Benjamin Schall from AvalonBay Communities acted as the buyer in this transaction. The sellers included Richard Schechter from Bainbridge Cos and Rockwood Capital, indicating a partnership in the ownership of the property prior to the sale. The complex was renamed as part of the rebranding following the acquisition.