PALM BEACH—Exclusive and high-priced. Those are among the best words to describe the San Marco at Broken Sound, a 336-unit luxury villa and townhome community that just sold for $80.3 million. The sale price equals $238,988 per unit.
ARA Florida-based principals Hampton Beebe and Avery Klann represented the seller, Chicago, IL-based Capri Capital Partners. ARA managing partners Marc deBaptiste and Richard Donnellan also worked on the deal. Miami-based BC Property Investments acquired the multifamily asset.
The core plus asset is in an affluent infill location in Boca Raton, FL. Boca Raton boasts a diverse economy driven by educational institutions and Fortune 500 companies.
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