Morguard Corp. acquired the apartment community in Cooper City’s Monterra neighborhood for $55.7 million.
Jag-Star Monterra, part of McLean, Virginia-based Jefferson Apartment Group, sold the 252 apartments at 8101 to 8191 Solano Ave. to Morguard Monterra, an affiliate of the Kenner, Louisiana-based apartment investor.
The 281,510-square-foot garden-style complex was built on the 11.4-acre site in 2013. Amenities include a clubhouse, pool, summer kitchen, conference room, fitness center, and walking trails.
The price equates to $221,032 per unit.
Monterra also includes single-family homes and hundreds of them are still under development.
This is Morguard’s 10th apartment property in Florida, including Blue Isle in Coconut Creek.
Brian Bandell, Senior Reporter, South Florida Business Journal