Law360 (September 25, 2019, 5:37 PM EDT) — Florida real estate firm Ytech has sold a shuttered Belle Glade, Florida, apartment complex for $7.4 million, The Real Deal reported Wednesday. The deal is for Grand Lake Apartments, which has 384 units and is at 2000 S. Main St., The Real Deal said. The buyer is an entity managed by Florida investor Irvin Pena, according to the report.
Washington, D.C., developer Penzance has picked up a Virginia office complex for $71.5 million, Commercial Observer reported Wednesday. The deal is for 10 buildings in Herndon, Virginia, that have a combined 422,000 square feet, and the seller is an entity affiliated with Deutsche Bank asset management arm RREEF, according to the report.
Developer Crescent Heights has picked up a piece of land for its development project in Edgewater, Florida, The Real Deal reported Wednesday. The firm paid AIDS Healthcare Foundation $6.75 million for 2900 Biscayne Blvd., and Crescent plans to use the land for part of a larger mixed-use project there, The Real Deal said.