The Royal Oaks Apartments in Lauderhill sold for $18.8 million.
Royal Oaks Square LLC, managed by veteran multifamily investor Krishna Persaud of Coral Springs-based KVR Properties, sold the 180 apartments at 5211 N.W. 27th St. and 5411 N.W. 25th Court to Treev-180 Units Lauderdale Investments, managed by Hugo Cascavita of North Miami Beach-based Treevita Group.
The buyer assumed a $17.08 million mortgage from Citibank, along with a personal guarantee on behalf of Cascavita. The deal was brokered by Franklin Street’s Dan Dratch, Greg Matus, Michael Dolgos and Travis Jones.
“We have seen significant interest in properties located in Opportunity Zones,” Matus said. “The federal program provides investors with significant tax benefits.”