Aug 10, 2005, 4:57pm EDT
Prestige Builders Partners has purchased the Minto South Florida portfolio of six multifamily properties in Delray Beach, Coconut Creek and Plantation for $300.31 million.
The Miami Lakes-based condo converter said its average $198,488 per-unit price was the result of a strenuous bidding process for Coconut Creek-based Minto Builders’ six communities, which range in age from 15 to 19 years old.
The 1,513-unit package includes:
• the 288-unit Spring Harbor and the 200-unit Spring Landing in Delray Beach
• the 168-unit Crown Pointe, the 372-unit Forest Point and the 192-unit Star Point – all at the Township in Coconut Creek
• the 293-unit Tuscany Place in Plantation
Marc deBaptiste and Avery Klann of Boca Raton-based Apartment Realty Advisorsrepresented Minto in the transaction. The Boca Raton ARA office said it has concluded $1.9 billion in multifamily sales so far this year.
Principals in Prestige Builders Partners are Jose Boschetti, Martin Caparros and Arthur Falcone