CORNERSTONE DEVELOPMENT GROUP has completed the $30 million Ft. Lauderdale-based Sanctuary Cove, a Mediterranean-style rental community on 17 acres. The 11-year project incorporates 292 apartment units that are situated in the main corridor between Miami and Palm Beach. Featuring the typical amenities of a multifamily housing community like pools, laundry facilities and an exercise room, Sanctuary Cove also boasts a computer center.
BERKELEY INVESTMENTS purchased 16 properties for $97.1 million from the Boston Wharf Co., capping one of the largest real estate deals in Boston's history. The portfolio includes nearly 800,000 sq. ft. between ten office buildings, two 800-space parking garages, and four parcels of land.
PASSCO REAL ESTATE ENTERPRISES along with its tenant-in-common investor group have completed a $29 million sale of the 341,000 sq. ft. Moreno Valley Plaza Shopping Center in southern California to Cannon Commercial located in Beverly Hills. The 15-year-old center is currently 92% leased and anchored by several retailers, including Vons grocery store, Office Depot, Big Five Sporting Goods, and Big Lots.