New York-based real estate finance firm Axonic Properties gave $25.4 million for more than half of the apartments at a Pompano Beach residential complex.
The sale of 153 condo units at the Breezes at Palm-Aire closed now and equates to $166,000 per condo, according to information from brokerage Berkadia. KeyBank provided a $16 million loan to Axonic.
The Breezes, situated at 2801 North Course Drive, sits within the I-95 highway and the Florida Turnpike. The garden-style residential community includes a total of 288 condos and features one- and two-bedroom units varying in size from 735 square feet to 1,120 square feet.
Axonic’s holdings include residential properties across Florida, the financing firm purchased 170 units at a Doral condo complex for $37.3 million.
Axonic’s progress reaches on the heel of other sizable assets of multifamily homes this week. Related Group’s 392-unit Royal Palm Beach sold for $119 million and Elan 16Forty, a 261-unit complex in Fort Lauderdale, went for $83.5 million.