Legacy Residential boosts multifamily portfolio with $77M Broward purchase

Legacy Residential Group added to its South Florida multifamily portfolio by purchasing a Coconut Creek apartment community for $77 million. An affiliate of Miami-based Legacy, led by Tom Cabrerizo, acquired the complex with 416 units at 4303 West Atlantic Boulevard, records and real estate database Vizzda shows. Formerly known as Banyan Bay Apartments, the property has been renamed Legacy at Coconut Creek, Vizzda states.  Legacy partially financed the purchase with a $64.4 million loan from Truist Bank. The deal breaks down to $185,096 per apartment.  The seller, an affiliate of Chicago-based Nuveen Real Estate, sold the complex for more than […]This article originally appeared on The Real Deal. Click here to read the full story.