MIAMI—Bulk condo sales aren't entirely a think of the past. One hundred-ten units at the Bermuda Cay condo in Boynton Beach, FL just sold for $15.1 million—and industry watchers say the transaction represents a growing trend of Palm Beach County value-add investments.

Rosendo Caveiro, senior director of Cushman & Wakefield and Brad Capas of CapasGroup Realty Advisors represented the seller, an affiliate of Dizengoff Group, in the disposition. A private investment group that specializes in the bulk purchase of fractured condominiums throughout Florida acquired the assets.

“The coastal Boynton Beach condominium resale market has recovered considerably since the depths of the recession,” says Capas, president of CapasGroup. “By our estimates, the average resale price of waterfront condominiums in this submarket has increased 19% since 2012.”