The Dermot Company Sells 456-Unit Luxury Townhome And Apartment Community In Boynton Beach, Florida

The Dermot Company Sells 456-Unit Luxury Townhome And Apartment Community In Boynton Beach, Florida

The Dermot Company, a vertically integrated multifamily investment manager, owner, and operator of high-quality communities, has sold The Seabourn, a 456-unit luxury townhome and apartment community in Boynton Beach, Florida, to IMT Capital, a Southern California-based owner and operator of multifamily communities nationwide. This marks a key milestone in Dermot’s strategy in Florida, bringing the investment full cycle after more than four years…

456-Unit Boynton Beach Apartment Complex Trades for $183.5M

The Dermot Company sold The Seabourn, a 456-unit luxury townhome and apartment community in Boynton Beach, Florida to IMT Capital. The South Florida Business Journal reports the sales price was $183.5 million. Walker & Dunlop provided the buyer with a $119.28 million mortgage that Fannie Mae backed. The apartment complex last traded for $143 million in 2021. The property, which has been rebranded as IMT Gulfstream by new ownership, includes one-…