Le Cercle Apartments Sells for $10.6M

FORT LAUDERDALE, FL-Le Cercle Apartments has been sold for $10.6 million. The price equates to approximately $116,484 per unit and $136 per sf. DSI at Le Cercle LLC, based in South Florida, purchased the property from Mauka, Med. LLC, based in Park City, UT.

The waterfront Le Cercle Apartments, located on the Intracoastal Waterway, contains 91 two-bedroom/one-bath units. The sale includes an eight-story, 77,850-sf apartment complex and a single-family, waterfront home. The apartments were built in 1966 and renovated between 1998 and 2002. The property has a long history of above-market occupancy levels and rents.