PALM BEACH, FL-The Heritage at Boca Raton, an ultra-luxury class AAA multifamily asset in Boca Raton, has traded for an undisclosed price. The 248-unit asset is 92% occupied.

ARA’s Boca Raton-based sales team of senior vice president Hampton Beebe, along with principals, Avery Klann and Marc deBaptiste represented Priderock Capital Management in the sale. A large pension fund advisor purchased the property in an all cash closing.

“The Heritage is unique because it was originally designed as a condo project,” Beebe tells GlobeSt.com. “The interior unit finishes, building design and amenities are unsurpassed. The Heritage is one of the finest rental communities in South Florida, the sale attracted just about every major core buyer in the country in a very competitive sales process.”