By Brian Bandell – Senior Reporter, South Florida Business Journal Jul 25, 2019, 12:51pm EDT
The Pinnacle at Abbey Park affordable apartment complex near West Palm Beach sold for $19.65 million, according to the seller.
Pinnacle at Abbey Park LTD, an affiliate of the Miami-based developer, sold the 160 apartments at 1921 and 1862 Abbey Road to San Diego-based Fairfield Residential. The seller was represented by broker CBRE and law firm Shutts & Bowen.
The price equated to $122,813 per unit.
Pinnacle developed the apartments on the 11-acre site in 2003 and 2004. It has 11 buildings of two stories each. Amenities include a clubhouse, a pool, a fitness center, and two playgrounds.
Pinnacle owns more than 4,000 apartments in South Florida. It currently has three apartment complexes under construction here.
