The two-year-old Bridgewater at Lake Osborne apartment complex near Lantana sold for $24 million, according to a statement from the sellers.
Bridgewater Lake Osborne LLC, a partnership between Jupiter-based Index Investment Group and Palm Beach Gardens-based Eastwind Development, sold the 108-unit complex for BLO Investors, managed by Jared Brunnabend in Miami. It’s located at 2282 Lantana Road and has plenty of lake frontage.
The price equates to $222,222 per unit. The deal was financed for $17.5 million by the Atlanta office of the PrivateBank.
The 193,812 square feet of garden-style apartments and townhouses with garages were built on the 9.6-acre site in 2014. The community includes a pool, a boat ramp, and a playground. Rent starts at $1,579.
Article Written by: Brian Bandell HERETags: Eastwind Development, Lake Osborne, Lantana