WEST PALM BEACH, FL—Visions at Willow Pond, a 300-unit garden-style community located here, has traded for $56.2 million. The seller is Jonathan Shechtman of New York-based Axonic Properties. The buyer is Miami-based Bar Invest Group, led by Herve Barbera.
The sale was led by NKF Executive Managing Director Tal Frydman, Vice Chairmen Avery Klann and Hampton Beebe and Directors Tyler Minix and Jonathan Senn.
"After a competitive bidding process, Axonic Properties picked Bar Invest Group for their expertise in the market and strong capacity to close on all of their acquisitions," said Frydman in prepared remarks. "Axonic Properties did a fantastic job upgrading units and thus improving the asset's rent roll. Bar Invest Group intends to complete all renovations and make additional property upgrades."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
