{"id":143485,"date":"2026-02-04T15:55:07","date_gmt":"2026-02-04T15:55:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/143485\/"},"modified":"2026-02-04T15:55:07","modified_gmt":"2026-02-04T15:55:07","slug":"fort-lauderdale-west-palm-rental-complexes-hitting-market","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/143485\/","title":{"rendered":"Fort Lauderdale, West Palm Rental Complexes Hitting Market\u00a0"},"content":{"rendered":"

A pair of South Florida apartment complexes will be going for sale, The Real Deal has learned, amid a slowdown of the multifamily market compared with recent years\u2019 boom.\u00a0<\/p>\n

Boston-based Stratford Management is looking to offload the 276-unit Riverland Apartments at 420-432 Southwest 27th Avenue in Fort Lauderdale for about $90 million, and CIX Capital wants to sell the 240-unit Village at Mangonia Lake at 2201 North Australian Avenue for about $70 million, according to Jaret Turkell, the broker marketing the properties on behalf of the sellers.\u00a0<\/p>\n

The complexes, both of which consist of market-rate rentals, are expected to hit the market this week.\u00a0<\/p>\n

Turkell and Omar Morales are part of the Berkadia team marketing the properties.\u00a0<\/p>\n

Completed in 2021 on an 11.1-acre site, Riverland consists of seven buildings with studios and one- to three-bedroom apartments, records show. Monthly rents range from $1,920 to $3,759, according to the property\u2019s website. The asking price amounts to $326,100 per unit.<\/p>\n

Stratford and Boca Raton-based Eastham Capital paid $84 million<\/a> for Riverland in 2023, assuming the seller\u2019s $55.9 million loan from First Republic Bank.\u00a0<\/p>\n

Village at Mangonia Lake, completed in 2019 on a 7.6-acre site, consists of three six-story buildings, property records show. It has one- and two-bedroom apartments, with monthly rents from $1,850 to $2,160, according to Apartments.com<\/a>. The asking price amounts to $291,700 per unit.<\/p>\n

Miami-based Resia developed Village at Mangonia Lake, and the property\u2019s ownership entity ties to Resia. But Turkell said CIX Capital, a S\u00e3o Paulo-based investment firm that\u2019s part of Brazil\u2019s investment and development firm Maiz, is listing the site.\u00a0<\/p>\n

CIX Capital launched CIX AHS Multifamily Income Bond in 2021 to co-invest with Resia in multifamily. It announced plans in 2024 to direct its investments to South Florida multifamily, according to its website and Brazilian news reports.\u00a0<\/p>\n

South Florida\u2019s multifamily market has been recalibrating.\u00a0<\/p>\n

After a pandemic-induced influx of out-of-staters, unprecedented demand prompted record rents, and developers seized on the boom<\/a> with hefty apartment completions. As a result, the market has felt the sting from a supply overhand<\/a> amid slower in-migration, leading to a drop in rents and increased concessions.\u00a0<\/p>\n

In December, the median asking rent in South Florida hit $2,262, a 3.4 percent decline year-over-year, according to Realtor.com<\/a>.\u00a0<\/p>\n

Still, the decision to sell a complex also is tied to when the landlord bought the properties and their investment strategy, Turkell said.\u00a0<\/p>\n

The apartment properties\u2019 listing comes as RFR Realty put on the for-sale market this month the 30-story 100 Biscayne office tower, at 100 Biscayne Boulevard, in downtown Miami for about $130 million<\/a>.\u00a0<\/p>\n

\tRead more
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\t\t\t\t\t\t\t\t\t\t\t\t\t\"Resia\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

Price revealed: Harbor pays $75M for rental complex near West Palm<\/p>\n

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\n\t\t\t\t\t\t\t\t\tDevelopment\t\t\t\t\t\t\t\t<\/p>\n

\n\t\t\t\t\t\t\t\t\tSouth Florida\t\t\t\t\t\t\t\t<\/p>\n

\u201cThe world turned\u201d: Why developers are selling South Florida multifamily sites\u00a0<\/p>\n

\t\t\t<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"A pair of South Florida apartment complexes will be going for sale, The Real Deal has learned, amid…\n","protected":false},"author":2,"featured_media":143486,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[249,251,250,69629],"class_list":{"0":"post-143485","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-fort-lauderdale","8":"tag-fort-lauderdale","9":"tag-fort-lauderdale-headlines","10":"tag-fort-lauderdale-news","11":"tag-south-florida-apartment-complexes"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/143485","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=143485"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/143485\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/143486"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=143485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=143485"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=143485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}