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New Boynton Beach Apartments Trade for $36M

BOYNTON BEACH-The Cornerstone Group developed the 312-unit Villa Del Sol garden-style community here in 2003. BF Group was the buyer and the sale price represented close to $116,025 per unit.

By Melissa Bogdany | Updated on March 15, 2004

BOYNTON BEACH-Villa Del Sol, a 312-unit apartment community in this community, has been sold for $36.2 million. BF Group purchased the garden-style community, located at 2925 S. Federal Highway, for approximately $116,025 per unit. The class A community was built in 2003 by the Cornerstone Group of Coral Gables, FL, and was 95% occupied at the time of the sale.

The property’s location and the level of unit and community finishes attracted BF Group, according to CB Richard Ellis. “The US 1 location in Boynton Beach coupled with the mix of larger unit types, offered the purchaser a strong opportunity for condominium conversion,” says Jay H. Massirman, a broker involved in the sale.

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