West Palm Beach, Florida based 152 unit, 1,2, and 3 bedroom apartment complex.
The facility was an under performing asset in need of repair in order to attract tenants.
Equity Partners was retained to sell the complex by the secured creditor, Ocwen Federal Savings Bank of West Balm Beach, Florida. Within 60 days, 11 prospects inspected the complex and Equity Partners generated five offers.
After competitive bidding, a cash sale at full fair market appraised value was achieved.