Mann Realty Associates has picked up the newly completed Barcelona Jupiter Apartments for $87.6 million. Developed by a partnership of The Davis Companies, FLF Holdings and Crossroads Development, the 352-unit complex traded for just under $248,864 per unit. Located at 111 Sierra Drive in Jupiter, the property features a state-of-the-art fitness center, a lakeside pavilion with a fire pit, a dog park, bocce and horseshoe courts, and a poolside lounge with a billiards room and 10 televisions. The community was 98 percent leased at the time of the sale. Ben Olive of Hackelman Olive and Judd represented Mann Realty Associates in this sale. ARA Newmark represented TDC in the sale.
āThis siteās ideal location presented us with an opportunity to create a completely new community that aligns with the needs of Jupiterās population. We strategically transformed the site into residences with terrific amenities that add tremendous value to the area. The Barcelona Jupiter Apartmentsā successful lease-up validates our joint ventureās strong vision for this project,ā said Jerry Murphy, Vice President of Investments at The Davis Companies.
