A Greensboro, North Carolina-based multifamily investor-manager bought two Boca Raton communities for $94.25 million with plans to combine the next-door developments into a 270-unit complex.
Bell Partners Inc. bought The Lumin for $56.5 million and The Cade for $37.75 million, and will merge them into Bell at Broken Sound. The acquisitions closed Oct. 26 with the deed becoming public on Friday.
The Bell at Broken Sound reflects the location at The Park at Broken Sound, a 700-acre residential, office, retail and hospitality planned development. It's home to major employers, including the Office Depot headquarters. The Park at Broken Sound is northwest of Interstate 95 and Yamato Road.
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.
Lidia Dinkova
Lidia Dinkova covers South Florida real estate for the Daily Business Review. Contact her at [email protected] or 305-347-6665. On Twitter @LidiaDinkova.
