BOCA RATON, FL-Archstone just snapped up a 252-unit multifamily apartment community in Palm Beach County from AEW Management. Archstone paid about $42 million for Vinings at Town Center, which will take on the name Archstone Boca Town Center.
The Boca Raton-based ARA sales team of Avery Klann, Hampton Beebe, and Marc deBaptiste represented AEW Capital Management in the sale. AEW sold the property on behalf of one of its institutional clients.
“We continue to be committed to the continual improvement of our portfolio of apartment communities in the nation’s best cities,” R. Scot Sellers, Archstone’s CEO, said in a statement. “Archstone Boca Town Center will be an excellent addition to our portfolio and our strategically located communities in Southeast Florida.”
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