New Vision Housing Foundation of Palm Beach Gardens has acquired the Gardens Apartments, a Section 8 affordable housing community in Opa-locka for $20.3 million. The sale includes 328 apartments totaling 409,658 square feet. Also included in the deal was 59,172 square feet of vacant land and parking lots as well as a 2,357 square-foot management office. The purchase was completed with a $24 million bond from Capital Trust Agency, a vehicle for tax-exempt financing in Florida. The property has a ground lease with the city of Opa-locka.
