Real estate investment firm Treevita bought 180 apartments in Lauderhill for $18.8 million.
The buildings are in a federal Opportunity Zone, and located at 5211 to 5458 Northwest 27th Street and 5411 Northwest 25th Court, according to records.
New Colony apartments brings in $2.4 million in annualized income and net operating income of $1.5 million, according to marketing material.
The deal includes units at the New Colony apartments at 5420 Northwest 27th Street. An online listing shows an 800-square-foot, one-bedroom apartment for $1,150 a month, and a 1,000-square-foot, two-bedroom available for $1,350.
North Miami Beach-based Treevita is led by Hugo Cascavita.
The seller was an affiliate of KVR Properties, which paid $14.2 million for the apartments in 2007. Arvind Reddy leads KVR.