Frankforter Group Acquires Pompano Beach Rental For $43 Million

The Montreal-based Frankforter Group bought Avery Pompano Beach, a new multifamily rental, for $42.9 million from Aventura-based Meyers Group, according to property records.

Stephane Benalal, Frankforter’s director of acquisitions announced that the South Florida market proceeds to exhibit signs of tremendous growth and almost 330,000 people have driven to Florida during the past year.

Arbor Realty Trust funded the deal with a $35.4 million acquisition loan. 

Positioned at 275 North Federal Highway, the 144-unit complex lies within Route 1 and East Atlantic Boulevard, which heads onto the beach less than a mile away. Monthly rents for one- to three-bedroom apartments vary between $1,705 and $2,732.

The Canadian real estate financing firm, led by CEO Yaakov Frankforter, practices in multifamily properties. Its portfolio holds more than 8,000 units across Canada and the United States.

The Pompano Beach purchase labels Frankforter’s second South Florida acquisition. The group purchased a Lauderdale Lakes apartment complex for $102.9 million in 2019 as per reports.

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