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La Via Units Sell for $55,000 Each

BOCA RATON, FL-ARA says it expects more fractured condo sales throughout Florida this year.

By Carl Cronan | Updated on January 27, 2009

(Carl Cronan is editor of Real Estate Florida.)

BOCA RATON, FL-A foreign investor has purchased 26 units at the La Via Condominium complex in Pembroke Pines for just over $1.4 million, or $55,000 per unit, in an all-cash transaction. Atlanta-based Apartment Realty Advisors Inc., which arranged the sale, expects to see more such fractured condo purchases throughout Florida in the coming year.

“We will see more all-cash deals from both local and foreign investors,” Avery Klann, senior vice president of ARA’s Florida division office in Boca Raton, tells GlobeSt.com. He says offshore investors are seeking opportunities within the US multifamily sector while domestic buyers are having difficulty arranging financing during the ongoing credit freeze.

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