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TGM Associates Acquires Mutlifamily Ocean Front Community in Florida.

M2 EQUITYBITES-July 8, 2016-TGM Associates Acquires Mutlifamily Ocean Front Community in Florida

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8 July 2016 - US-based investment advisory firm TGM Associates has acquired the Boca Raton, Florida-based multifamily property TGM Oceana, the firm said.

TGM Oceana is a two building mid-rise apartment community with 160 units and ten deep-water boat slips.

Lamar Group sold the property for USD 51.5m.

The four-acre community spans the entire width of Boca Raton's barrier island boasting 100 feet of beach frontage and 10 boat slips on the Intracoastal Waterway.

TGM Oceana's location in the southeastern part of Palm Beach County provides access to job centres in both Palm Beach and Broward counties.

Boca Raton boasts over 17.2m square feet of office space. The city possesses one of the largest concentrations of employment in Florida.

TGM Oceana, formerly known as Villa Oceana, was owned and managed by Chicago, IL based Laramar.

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Publication:M2 EquityBites (EQB)
Geographic Code:1U5FL
Date:Jul 8, 2016
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