The Villa Oceana apartment complex near the beach in Boca Raton sold for $55.5 million, a 255 percent gain from its last trade six years ago.
The Laramar Group sold the 160-unit complex at 2519 N. Ocean Blvd. to New York-based TGM Associates. The seller was represented by Hampton Beebe, Avery Klann, Jonathan Senn, Dick Donnellan and Marc deBaptiste of ARA, a Newmark Company.
The price equates to $346,875 per unit. It was 94 percent occupied, ARA said.
“Villa Oceana is truly a one-of-a-kind property…