Cottage Cove has 94 single-story buildings of four-units each and six multi-story apartment buildings. Amenities include a pool and laundry building.
Cottage Cove was developed in 1970. It last traded for $27.57 million in 2006.
Cushman & Wakefield said the apartments are 97 percent occupied with an average rent of $1.40 per square foot.
“Investor interest was very strong due to the sheer size of the property and value-add opportunity,” Weaver, an associate familiar with the sale, said. “The buyer is new to the South Florida market, highlighting an abundance of new domestic and foreign capital looking for value-add opportunities throughout the region.”Read more here. Work with Us Looking to connect with an experienced development and property management team? TM has over three decades of experience in property and asset management. Contact TM today to learn more.