Washington Nationals Owner Acquires Port St. Lucie Apartments in $65M Deal
By Keith Loria November 14, 2022 5:48 pm
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Lerner Enterprises has acquired The Parc at Gatlin Commons, a 200-unit apartment community in Port St. Lucie, Fla., for $65 million.
The Rockville, Md.-based real estate firm, owned by Mark Lerner, the current owner of MLB’s Washington Nationals, will rename the property Lerner Parc at Gatlin Commons.
The seller was JSB Capital, a Miami-based firm that acquired the community in 2021 for $46 million. The firm was called GMF Capital at the time.
Aaron Jungreis, CEO of the New York-based Rosewood Realty Group, represented both sides of the deal.
“The property is in a growing and extremely stable area in Florida,” Jungreis said in a prepared statement. “This sale represents the 15th deal Rosewood has delivered in Florida this year, and we are poised to add more deals and assignments to sell as we continue to dominate in the Florida market.”
Located at 1900 SW Aledo Lane, the complex comprises six three-story buildings, with a mix of one-, two- and three-bedroom units. Amenities include fitness facilities, a clubhouse, a theater room and a swimming pool. Monthly rates currently range from $1,800 to $2,970, according to Rosewood Realty Group.
The property is six miles from Clover Park, the New York Mets’ spring training complex.
Founded 60 years ago, Lerner Enterprises is a developer, owner and manager of office, multifamily, retail and hospitality assets primarily in the greater Washington, D.C., region. The company is no stranger to the Florida market, acquiring Motion at Dadeland, a 295-unit apartment building in Miami, in 2021 for $114 million.
Requests for comment from both sides of the deal were not immediately returned.
Keith Loria can be reached at Kloria@commercialobserver.com.
