BOCA RATON, FL—The Whispering Palms Apartments and Del Rio South Apartments developments here have traded for a combined sales price of nearly $7 million.
The sale of the two properties was reported by the brokerage firm Marcus & Millichap. The 54-unit Whispering Palms Apartments sold for $4,329,310, while the 33-unit Del Rio South Apartments community sold for $2,645,690. Brandon J. Rex, a vice president, investments in Marcus & Millichap's Fort Lauderdale office, represented the Boca Raton-based seller as well as secured the buyer, a limited liability company from Delray Beach, FL.
Whispering Palms Apartments consists of three two-story buildings that are comprised of 20 efficiencies, 24 one-bedroom/one-bath units, two two-bedroom/one-bath units, and eight three-bedroom/two-bath units. The property is located south of Yamato Road and west of Federal Highway at 4850 NE 5th Ave.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
