S
ympatico Real Estate, led by the Morrison family, acquired the Aviara Green apartment complex near West Palm Beach for $17 million. The 56-unit property, located on a 3.3-acre site, was developed by MAG Real Estate & Development and features 12 workforce housing units under Palm Beach County's program. Sympatico assumed a $10.1 million loan balance from Transamerica Financial Life Insurance Company.

    The complex is 95% leased and situated west of Palm Springs and north of Greenacres. MAG Real Estate, led by founder Maher Hanna, partnered with Aviara Properties to conceptualize and brand the multifamily complex. Sympatico has been expanding its real estate portfolio in recent months, including a partnership with Terra on a Cipriani-branded project in downtown West Palm Beach.

    Despite elevated interest rates and skittish lending, South Florida's multifamily investment sales remain steady. This month, Grand Peaks acquired the 448-unit The Seven at West Boca for $90.9 million, following Graham Companies' $69 million purchase of the Courtyards at Miami Lakes last month.