MRK Partners pays $33m for the Emerald Palms Apartments in Dania Beach, FL

MRK Partners pays $33m for the Emerald Palms Apartments in Dania Beach, FL

Published at: 2017-08-03 18:20 | Author: CIJ USA
The Emerald Palms Apartments, an affordable community in Dania Beach, Fla., has been sold by Housing Trust Group and Park Place Enterprises. The buyer, Manhattan Beach-based MRK Partners, paid $33.4 million for the 318 unit property. Located at 5331 SW 4th Terrace, the community was redeveloped in 2002 with upgrades to the residences and common amenities. Timothy Flint, senior vice president at CBRE Affordable Housing in Seattle, along with Richard Tarquinio, senior vice president at CBRE’s Fort Lauderdale office, represented the seller in the transaction. “The property has an attractive unit mix of one-, two-, and three-bedroom units, and an occupancy averaging nearly 98 percent over the last 18 months,” stated Tarquinio.

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