The Camelot West Apartments in Wilton Manors sold for $11 million, a big gain from its last trade six years ago.
Tamuz-Camelot 2625 LLC, managed by Ronen Dagan of Tamuz Real Estate in Miami, sold the property at 2625-2647 N. Andrews Ave. with 66 residential units and seven commercial units to Wilton Pointe Apartments LLC, a Boca Raton-based company managed by Vinod Kulhari and Paul Hassebroek. The buyer obtained a $7.15 million mortgage from Orix Real Estate Capital, with backing from Fannie Mae.
The seller was represented by Dan Dratch Ryan Wold, Greg Matus and Travis Jones of Franklin Street. The Franklin Street team of Evan Seacat, Ryan Cassidy and Alec Laetham helped the buyer obtain property insurance. The buyer was represented by Doug Shavel of Signature Commercial Real Estate.
The property last traded for $6 million in 2015. Tamuz Real Estate renovated the apartments to enhance their value. It is 96% occupied.
