Iron River Management on behalf of CF Partners has sold Coral Falls, a 190-unit value-add multi-housing property located in Coral Springs, Fla., 20 miles northwest of Fort Lauderdale.
Landmark Cos. paid $40.2 million. The firm is working locally with Weirwood Capital. Landmark owns and operates more than 3,000 apartment units, and this is their second Florida acquisition.
Coral Falls was originally built in 1988 and consists of 19 residential buildings, a clubhouse and maintenance shop. The garden-style apartments total 195,504 rentable square feet and include one- and two-bedroom floorplan options. Community amenities include a clubhouse, fitness center, picnic areas, tennis court, playground and swimming pool.
The apartments are located at 2801 N.W. 91st Ave., near various golf courses and other residential communities. This quaint area is known for its “calmer and higher quality of life,” while still providing direct access to key economic dri
