Boca Raton House Home Trades for $57M

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Bell Partners Inc. has gotten The Lumin, a 180-unit apartment or condo building in Boca Raton. The sales price was $56.5 million.

The residential or commercial property is located within The Park at Broken Noise, a 700-acre residential, office, retail as well as hospitality master advancement in Boca Raton. At the time of sale, the building was 96% rented.

The vendor was a joint endeavor between The Davis Cos. (TDC) and also Mainstreet Capital Allies. The JV created the residential property in 2015 with a plan to take advantage of the City of Boca Raton’s vision for the redevelopment of the Broken Audio workplace campus right into a mixed-use community. The acquisition was composed of a 115,986-square-foot office building on one parcel as well as two single-story flex commercial structures on a different parcel. Building and construction on The Lumin was completed in October 2018.

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