A Key West apartment complex has been sold to Irvine, California-based Passco Companies for $101.5 million. The 297 unit property called Ocean Walk is located at 3900 South Roosevelt Boulevard and traded for $341,750 per unit. The four building community was built in 1989 on a 17 acre site. The sellers, a joint venture between Mast Captal and Rockpoint Group, bought the asset in 2014 for $75.35 million. Last year, rents at Ocean Walk ranged from $1,775 for a 500 square foot one bedroom to $2,825 for a 1,048 sqf bedroom. ARA Newmark’s Hampton Beebe, Avery Klann and Jon Senn brokered the sale.
