Palm Beach Gardens apartments fetch nearly $100 million

5:22 p.m Thursday, Feb. 8, 2018 Business

The 542-unit Landmark at Garden Square apartment complex in Palm Beach Gardens has sold for $97.3 million, according to a deed.

The property last sold in 2012 for $54 million. The complex, built in the early 1970s, is just west of Interstate 95 and just south of PGA Boulevard. The new owner is Advenir, an Aventura landlord.

The new owner took mortgages totaling $80 million, according to property records.

Rents at the complex, renamed Advenir at PGA, range from $1,204 to $2,043, according to Apartments.com.

Advenir plans an extensive renovation of the property, according to ARA Newmark, the commercial real estate brokerage that represented the seller.