The Sherwood Forest Apartments in Coral Springs have been acquired by an affiliate of Abacus Capital Group in New York for $68.2 million. The 400 apartment complex at 1599 N.W. 91st Avenue, was built in 1989 completely surrounded by the 29-acre Sherwood Forest Park. The seller, Houston-based LSR Group, let the property go for $170,500 per unit. Institutional Property Advisors, a division of Marcus & Millichap specializing in institutional and major private real estate investors represented the seller during the sale. The deal was completed with a $53.88 million mortgage provided by the Federal Home Loan Mortgage Corp. “Prior ownership spent over $3 million dollars on capital improvements that pave the way for the continued repositioning of this attractive and well-managed asset,” says IPA senior managing director Steve Witten of IPA’s Northeast and Florida team.
