The new owner may convert the apartments into condominiums, another trend in the South Florida area. The seller was J&P Construction of Palm Beach Gardens, FL. The sale price equates to approximately $108,974 per unit for the 234-unit luxury complex. The sale closed June 4.

Heather Glen, built in 1997, is located on 10 acres of land at 731 S.W. 148th Ave. in the Weston submarket.The complex has 17 three-story buildings and 282,048 sf of rentable space. It is about 85% occupied.

The units, which include mostly two- and three-bedroom townhomes with some one-bedroom units, range in size from 1,070 sf to 1,288 sf. At the close of the sale, the average asking monthly rent was $1,188.vAccording to Brett Chwick, a broker involved in the transaction, there is a lot of demand by investors for luxury rental communities in South Florida.