Richard Kurtz Of Kamson Corporation And Joel Gluck Of Scopus Property Management Acquire Multifamily Community In West Palm Beach For $90M

The multifamily asset located at 1401 Village Blvd in West Palm Beach, FL, encompasses 28 acres and offers 400 rental units. The property was sold for $90 million and spans approximately 360,488 rentable square feet, with a price per unit of $225,000. The deal signifies the conversion of a condominium back to rental housing, which occurred in 2025.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $90,000,000
• Units: 400
• Price Per Unit: $225,000
• Address: 1401 Village Blvd
• Market: West Palm Beach, FL
• Lender: Prospect Ridge & Blue Owl
• Mortgage Brokers: David Bollag & James Darling - Meridian Capital Group
• Buyers: Richard Kurtz - Kamson Corporation; Joel Gluck - Scopus Property Management

The acquisition was facilitated by Prospect Ridge and Blue Owl, which provided an $81 million acquisition loan for the transaction. David Bollag and James Darling from Meridian Capital Group represented the mortgage brokerage in this deal.