South Florida’s booming population is helping one real estate firm to buy, flip and sell residential communities for millions.
In its latest sale, the real estate development and asset management firm BAR Invest Group sold its townhouse community Serramar at 6701 W. Oakland Park Blvd. for $58 million to the New York-based real estate management firm Milbrook Properties on Thursday, according to Herve Barbera, executive vice president of BAR Invest Group. The community totals 307,690 square feet with 302, garden-style units and has a 95% occupancy. The firm bought Serramar for $44 million in 2016.
BAR Invest Group rented each unit at $120 per square foot in 2016 and $158 per square foot after it completed renovations, an increase of over 30%, Barbera said.
“With an increase in population, we are able to increase the rent and people are always looking for a better project to live in. That’s why
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