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Fred DeFalco, P.A. DeFalco Real Estate Group 1601 NW 13 th Street, Boca Raton, Florida 33486 Office: 561-391-4141 Ext. 216 | Fax: 561-391-3911 | Email: [email protected] Page 1 of 1 This following and attached information is an apartment complex DeFalco Real Estate Group brokered for the owner in 2013. The property closed in January 2014 for $8,700,000. The buyer who was a local investment/development company invested $1,950,000 in renovations ($20,000 per unit) They renamed the property from Boca Sol Apartments to University Commons and turned the rentals into student housing. With the renovations they achieved the ability to have 128 total rentable beds. BTW: ALL UNITS AT THIS PROPERTY ONLY HAS ONE BATHROOM The property was sold to a student housing venture group and closed in January 2016 for $15,000,000. $15,000,000 divided by 128 beds came to a sales price of $117,187 per bed. Assuming the same scenario for Country Club Village property there would be available 168 beds, majority units have two bathrooms. 168 beds times $117,187 per bed would be $19,687,416.
