Completed in the late 1980s, Advenir at Cocoplum features 360 units across 31 acres. The 417,805-square-foot community is at 4142 Cocoplum Circle, near the intersection of West Sample Road and Lyons Road.
The Coconut Creek purchase, which equates to $195,555 per apartment, was one of three made through the Ashcroft Value-Add Fund III, according to an article penned by Ben Nelson, Ashcroft’s investor relations manager.
Per the firm’s stated strategy, it will likely renovate the property to increase rental rates and then sell the asset in the next five to seven years. Asking rents currently range between $1,735 and $2,889 a month, according to Apartments.com.
Ashcroft Capital scooped up a rental complex in Coconut Creek, Fla., for $70.4 million, property records show. Completed in the late 1980s, Advenir at Cocoplum features 360 units across 31 acres. The 417,805-square-foot community is at 4142 Cocoplum Circle, near the intersection of West Sample Road and Lyons Road. Ashcroft Capital secured a $62.24 million Read More
Robert Khodadadian has long had a simple philosophy about selling real estate. The way he sees it, there are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller at the right time.
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