Grand Peaks Properties sells Florida multi-housing community for $30m

Grand Peaks Properties has sold The Gardens at Nova, a 140-unit, value-add multi-housing community in Broward County, a prime suburban growth market in South Florida, for $30.3 million.

Robbins Property Associates purchased the asset. 

“The Gardens at Nova is a fantastic asset with tremendous growth potential, in large part due to its central location in the Town of Davie, proximate to both major employment and demand drivers, as well as a strong highway network,” said Simon Banke from JLL, who represented the seller.

The Gardens at Nova comprises 16 garden-style residential buildings housing two-bed, two-bath units averaging 1,173 square feet and one clubhouse/leasing office. In addition to the clubhouse, the pet-friendly community features a business ce