{"id":1819,"date":"2018-04-02T15:25:02","date_gmt":"2018-04-02T19:25:02","guid":{"rendered":"https:\/\/groupebcl.ca\/?p=1819"},"modified":"2018-04-02T15:25:02","modified_gmt":"2018-04-02T19:25:02","slug":"lsr-communities-trades-its-boca-raton-apartment-complex-for-77m","status":"publish","type":"post","link":"https:\/\/groupebcl.ca\/en\/lsr-communities-trades-its-boca-raton-apartment-complex-for-77m\/","title":{"rendered":"LSR Communities trades its Boca Raton apartment complex for $77M"},"content":{"rendered":"<p><em>Rents for complex start at $1,200 per month for one-bedroom unit<\/em><\/p>\n<p>LSR Communities, a Texas-based owner and operator of apartment communities, just sold one of its rental complexes in Boca Raton to an affiliate of JRK Property Holdings for $77 million.<\/p>\n<p>County records show the sale is for Arbor Oaks, a 360-unit apartment community at 9703 Arbor Oaks Court.<\/p>\n<p>Described as a luxury community on its website, Arbor Oaks has asking rents ranging between $1,275 and $1,900 per month. Its floor plans come in one-, two- and three-bedroom configurations that are a minimum of 820 square feet.<\/p>\n<p>LSR Communities added Arbor Oaks to its portfolio in 2009 when it paid $39.15 million, or $108,750 per unit for the complex, according to county records.<\/p>\n<p>Now, the company has sold it for nearly double that price at $213,888 per unit. The buyer, JRK Property Holdings, is a real estate investment firm based in Los Angeles. It mainly targets \u201cvalue-added opportunities\u201d that produce solid cash slow, according to the company\u2019s website.<\/p>\n<p>JRK financed its purchase with a $58.6 million loan from Berkadia Commercial Mortgage.<\/p>\n<p>South Florida\u2019s multifamily investment market was a hot ticket last year, with more than $2.7 billion worth of rental properties trading hands. Industry insiders cited steadily rising rents and growing demand from demographics like millennials as reasons why the multifamily market here is heating up.<\/p>\n<p>_____________<\/p>\n<p><em><a href=\"https:\/\/therealdeal.com\/miami\/2016\/05\/27\/lsr-communities-trades-its-boca-raton-apartment-complex-for-77m\/\" target=\"_blank\" rel=\"noopener\">Read the original article<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rents for complex start at $1,200 per month for one-bedroom unit LSR Communities, a Texas-based owner and operator of apartment communities, just sold one of its rental complexes in Boca Raton to an affiliate of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1810,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[30],"tags":[],"class_list":["post-1819","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - 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