The Deer Chase apartment complex in Deerfield Beach changed hands for $23.5 million, The Real Deal has learned.
Fund VIII DC Deerfield Beach, a company tied to Chicago-based Waterton Associates, sold the 4400 Northwest Sixth Street complex on Tuesday, according to Broward County records. It paid $14.6 million for the property in June 2005. The 186-unit complex was constructed in 1986.
PBH Deer Chase is the buyer. The Miami-based company obtained an $18.1 million loan from Berkadia Commercial Mortgage.
State corporate records identify Pensam Deer Chase as manager of the buying company. It shares a mailing address with Pensam Capital, a Miami-based private real estate lender and investment firm.