The property was sold at a cap rate of 7.5%.Boca Raton, FL-based, publicly traded Gables Residential expects its share of the gain from the sale to be about $300,000 or one cent per diluted share.
The average quoted monthly rent range is $947 to $1,433. Gables Crestwood, at 50 Crestwood Court N., offers two-bedroom/two-bath units and three-bedroom/two-bath units. Several of the units have garages.
Units range from 1,196 sf to 1,543 sf. Amenities include furnished rentals with washer/dryer, ceramic tile, business center, jogging trail, basketball and tennis courts, and picnic area.
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