Villa Oceana apartment complex purchased for $51.5 million

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Staff report
Boca’s Villa Oceana apartment complex recently sold for $51.5 million.
New York-based TGM Associates purchase the 160-unit complex from the Laramar Group.
The apartments are located at 2519 N. Ocean Blvd. The price equates to $346,875 per unit.
It was built in 1967 and renovated in 2009. It last sold for $14.5 million in 2010. Amenities include private beach, boat dockage, a pool, a fitness center with sauna and available garages and carports.