B
owery Properties has acquired a 352-unit apartment complex in Lauderhill for $44.1 million, marking another significant multifamily investment sale in South Florida before year-end. The purchase of Windward Vista Apartments at 4491 Northwest 19th Street was made by an entity tied to Thomas Neary, the owner of Bowery Properties. The buyer assumed a $25.3 million Freddie Mac loan on the property, increasing the total debt to $35.8 million. This brings the price per unit to $125,284.

    Windward Vista consists of four four-story buildings and a clubhouse built in 1973 on a 9.7-acre site. The complex offers one- and two-bedroom apartments with monthly rents ranging from $1,550 to $2,050. Bowery Properties has been an active investor in South Florida, having sold several properties in the past year.

    The Lauderhill purchase is part of a larger trend of apartment investment sales in South Florida, with many investors seeking to close deals before year-end. This month alone, EcoStone Group paid $17.6 million for the 63-unit Imanema Apartment building and JSB Capital Group paid $69 million for the 197-unit Stellar at Emerald Hills.