Source: GMH Capital Partners / #Apartments #Multifamily
KEY WEST, FL - GMH Capital Partners of Newtown Square, PA announced the recent sale of Peary Court in Key West FL, a 157 unit townhome community situated on 23.5 acres. The property was sold to White St. Partners, LLC. GMHCP represented the seller, Southeast Housing. The terms of the deal were undisclosed.
Built in 1994, Peary Court in Monroe County, of Key West FL is made up of two bedroom units averaging over 986 SF in size. The community is located near famous Duval Street which is known for its night life, restaurants and shopping. Peary Court provides residents with numerous amenities such as basketball and handball courts, playgrounds and community picnic areas. The property was 95% leased at the time of the sale.
"We are very excited about the acquisition of such an iconic property in Key West. Its long history dating to the beginning of the city of Key West, makes it such an integral part of the community fabric," stated Everett Atwell of White Street.
"There were multiple stakeholders involved in this disposition, but the guidance of GMH Capital Partners kept the process on track and resulted with all parties being very happy at the closing," stated Mark Lavin of Southeast Housing.
GMH Capital Partners is a nationally recognized leader in the real estate market specializing in the areas of development, construction, investment, and asset management. GMH Capital Partners has developed numerous successful multi-family communities and commercial developments around the United States including college, military, retail and commercial.